(105 ILCS 5/34A-603) (from Ch. 122, par. 34A-603)
Sec. 34A-603.
State, City or Board not liable on Obligations.
Obligations issued under the provisions of this Article shall not be deemed
to constitute a debt or liability of the State, the City or the Board or
of any political subdivision thereof other than the Authority or a pledge
of the full faith and credit of the State, the City or the Board or of any
such political subdivision other than the Authority, but shall be payable
solely from the funds and revenues herein provided therefor. The issuance
of Obligations under
the provisions of this Article shall not directly or indirectly or contingently
obligate the State, the City or the Board or any political subdivision thereof
other than the Authority
to levy any form of taxation therefor or to make any appropriation for their
payment. Nothing in this Section contained shall prevent or be construed
to prevent the Authority from pledging its full faith and credit to the
payment of obligations authorized pursuant to this Article. Nothing in
this Article shall be construed to authorize the Authority to create a debt
of the State, the City or the Board within the meaning of the Constitution
or Statutes of Illinois and all Obligations issued by the Authority pursuant
to the provisions of this Article are payable and shall state that
they are payable solely from the funds and revenues pledged for their payment
in accordance with the resolution authorizing their issuance or in any trust indenture
or mortgage or deed of trust executed as security therefor. The State,
the City or the Board shall not in any event be liable for the payment of
the principal of or interest on any Obligations of the Authority or for
the performance of any pledge, mortgage, obligation or agreement of any
kind whatsoever which may be undertaken by the Authority. No breach of
any such pledge, mortgage, obligation or agreement may impose any liability
upon the State, the City or the Board or any charge upon their general credit
or against their taxing power.
(Source: P.A. 81-1221.)
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