Mich. Comp. Laws § 331.73d: Refunding bonds; nonliability of state; statement.

Sec. 43d.

The state shall not be liable on the refunding bonds of the state authority, and the bonds shall not be a debt of the state. Each bond shall contain on its face a statement to that effect. The state shall not be or become liable for a debt evidenced by the bonds or notes to be refunded as a result of the issuance of the refunding bonds.