Title 53A Chapter 20b Section 105

State System of Public Education
Charter School Financing
Section 105
Limited obligations.

            

53A-20b-105.   Limited obligations.

            Except as provided in Part 2, Charter School Credit Enhancement Program, bonds, notes, and other obligations issued by the authority:

            (1) do not constitute a debt, moral obligation, or liability of the state, or of any county, city, town, school district, or any other political subdivision of the state;

            (2) do not constitute the loan of credit of the state or of any county, city, town, school district, or any other political subdivision of the state; and

            (3) may not be paid from funds other than loan payments or lease revenues received from a charter school or other funds pledged by a charter school.


Amended by Chapter 201, 2012 General Session