Ohio Code § 6121.10

§ 6121.10.

Water development revenue bonds and notes and water development revenue refunding

bonds issued under sections 6121.01 to 6121.22, inclusive, of the Revised Code , do not constitute a debt, or a pledge of the faith and credit, of the state or of

any political subdivision thereof, and the holders or owners thereof have no right

to have taxes levied by the general assembly or taxing authority of any political

subdivision of the state for the payment of the principal thereof or interest thereon,

but such bonds and notes are payable solely from the revenues and funds pledged for

their payment as authorized by such sections, unless the notes are issued in anticipation

of the issuance of bonds or the bonds are refunded by refunding bonds issued under

Chapter 6121. of the Revised Code, which bonds or refunding bonds shall be payable

solely from revenues and funds pledged for their payment as authorized by such sections.  All such bonds and notes shall contain on the face thereof a statement to the effect

that the bonds or notes, as to both principal and interest, are not debts of the state

or any political subdivision thereof, but are payable solely from revenues and funds

pledged for their payment. All expenses incurred in carrying out Chapter 6121. of the Revised Code are payable

solely from funds provided under such sections.  Such sections do not authorize the Ohio water development authority to incur indebtedness

or liability on behalf of or payable by the state or any political subdivision thereof.