Okla. Stat. tit. 2, § 2-4012
This is the official text of Okla. Stat. tit. 2, § 2-4012, part of Oklahoma’s Stat. tit. 2, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 2,." Browse the sections below, each linked to its official government source.
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Revenue bonds not to be considered debt of the state
Official statutory text
Revenue bonds of the Oklahoma State University Veterinary
Medicine Authority issued pursuant to the provisions of the Oklahoma
State University Veterinary Medicine Authority shall not constitute
a debt of the state or of any political subdivision thereof, or a
pledge of the full faith and credit of the state, or of any
political subdivision thereof, but such bonds shall be payable
solely from the funds provided therefor. The forms of the bonds so
issued shall contain on the face thereof a statement to the effect
that neither the state nor the Authority shall be obligated to pay
the same or the interest thereon except from the revenues of the
Authority pledged to the payment of such bonds and that neither the
Oklahoma Statutes - Title 2. Agriculture Page 784
faith and credit nor the taxing power of the state or any political
subdivision thereof is pledged, or may hereafter be pledged, to the
payment of the principal of or interest on such bonds. The bonds so
issued shall be exempt from taxation by the State of Oklahoma and
any political subdivision thereof, including the income therefrom,
and any gain from the sale thereof.
Medicine Authority issued pursuant to the provisions of the Oklahoma
State University Veterinary Medicine Authority shall not constitute
a debt of the state or of any political subdivision thereof, or a
pledge of the full faith and credit of the state, or of any
political subdivision thereof, but such bonds shall be payable
solely from the funds provided therefor. The forms of the bonds so
issued shall contain on the face thereof a statement to the effect
that neither the state nor the Authority shall be obligated to pay
the same or the interest thereon except from the revenues of the
Authority pledged to the payment of such bonds and that neither the
Oklahoma Statutes - Title 2. Agriculture Page 784
faith and credit nor the taxing power of the state or any political
subdivision thereof is pledged, or may hereafter be pledged, to the
payment of the principal of or interest on such bonds. The bonds so
issued shall be exempt from taxation by the State of Oklahoma and
any political subdivision thereof, including the income therefrom,
and any gain from the sale thereof.
Status: in_force · Read it on the official government site
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