60-11-1205. Bond limitations. (1) The interest rate or rates on the bonds shall be determined by the department. The total amount of bonds outstanding at any one time may not exceed $75 million.
     (2) Each bond must have printed on its face a statement that the state is not liable on the bond, the bond is not a debt of the state, and neither the faith and credit nor the taxing power of the state is pledged to the payment of the principal or the interest on the bond.

     History: En. Sec. 5, Ch. 565, L. 1979; amd. Sec. 9, Ch. 486, L. 1981.