60-11-1203. Railroad rolling stock revenue bonds. (1) The department is authorized to issue and sell railroad rolling stock revenue bonds under the provisions of this part. The department of administration shall assist the department in the issuance and sale of the bonds.
     (2) The bonds do not constitute a debt, liability, obligation, or pledge of the faith and credit of the state but are payable solely from the revenues or assets of the department acquired or held in connection with rolling stock projects.

     History: En. Sec. 3, Ch. 565, L. 1979; amd. Sec. 67, Ch. 83, L. 1989.