17 GCA § 17105: Territory Not Liable for Bonds; Board Only Liable as Provided by Indenture.

The Board, with the approval of the Governor, shall issue revenue bonds in its name and as its obligation, but no bond issued or sold pursuant to this Chapter shall be or become a lien, charge or liability against the Territory or the Governor or against the Board or against the property or funds of the Board or the Territory or the Governor, except to the extent of the pledge of revenues or part of revenues of the project, as may be provided by the indenture pursuant to which revenue bonds are issued and every such bond issued by the Board shall contain a recital on the face thereof, stating that neither the payment of the principal nor any part thereof, nor any interest thereon, constitutes a debt, liability or obligation of the Territory.