LD 1868, Page 20 - 119th Legislature, FIRST REGULAR Session

referred to in this Act; and to fulfill the terms of any agreements

made with the holders of the securities.__The State also pledges

and agrees that it will not impair the rights and remedies of the

holders of securities until the securities, together with interest

on securities, interest on any unpaid installments on interest and

all costs and expenses in connection with any action or proceeding

by or on behalf of the holders of securities are fully met and

discharged.

§6427.__Credit of State not pledged

Securities issued under this Act do not constitute or create
any debt or debts, liability or liabilities on behalf of the
State or of any political subdivision of the State other than the
board or a loan of the credit of the State or a pledge of the
faith and credit of the State or of any political subdivision
other than the board, but are payable solely from the funds
provided for that payment.__A security issued under this Act must
contain on its face a statement to the effect that neither the
State nor any political subdivision of the State is obligated to
pay the securities or the interest on the securities, except from
revenues of the board or the project, projects or part of any
project for which they are issued and that neither the faith and
credit nor the taxing power of the State or of any political
subdivision of the State is pledged to the payment of the
principal of or the interest on the securities.__The issuance of
securities under this Act does not directly, indirectly or
contingently obligate the State or any political subdivision of
the State to levy or to pledge any form of taxation or to make
any appropriation for payment.__Nothing contained in this section
may prevent or be construed to prevent the board from pledging
its full faith and credit to the payment of securities authorized
pursuant to this Act.

§6428.__Gifts and contributions

The board may accept gifts and contributions as provided in
section 6405, subsection 21 for the purpose of acquiring or
managing a project, projects or part of any project.__The board,
in accepting gifts of money, federal funds or other types of
income, shall place this money in a special account for the
purpose for which it is provided.__The board may invest the money
as provided in this chapter, subject to any limitations imposed
by the donor.

§6429.__Continuing disclosure

With respect to any securities of the board, the Treasurer of
State may enter into any agreement for the benefit of the holders
of securities of the board to provide annual financial

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