{"data":{"id":"us-ky/krs-247.948","jurisdiction":"us-ky","citation":"KRS 247.948","heading":"Obligations not debt of Commonwealth.","body":"(1) Obligations issued under the provisions of KRS 247.940 to 247.978 shall not be\ndeemed to constitute a debt, liability or obligation of the Commonwealth or any\npolitical subdivision thereof or a pledge of the faith and credit of the\nCommonwealth or any such  political subdivision, but shall be payable solely from\nthe revenues or assets of the corporation. Each obligation issued under the\nprovisions of KRS 247.940 to 247.978 shall contain on the face thereof a statement\nto the effect that the corporation shall  not be obligated to pay the same nor the\ninterest thereon, except from the revenues or assets pledged therefor, and that\nneither the faith and credit nor the taxing power of the Commonwealth or any\npolitical subdivision thereof is pledged to the payment o f the principal of or the\ninterest on such obligations.\n(2) Expenses incurred by the corporation in carrying out the provisions of KRS 247.940\nto 247.978 may be payable from funds provided pursuant to KRS 247.940 to\n247.978 and no liability shall be incurr ed by the corporation hereunder beyond the\nextent to which moneys shall have been so provided.","path":["KRS Chapter 247"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=11861","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:00Z","sha256":"479e15eafb4e9e7bbdcce252001a7a41a2193352f6c613c65a2b955810a7511d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-247.9473","next":"us-ky/krs-247.950"},"notice":"GroundRules: Original legal text. Not legal advice."}