Bonds payable from receipts of Authority

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    (a)    The bonds of any issue shall be payable solely from the property or receipts of the Authority, including without limitation:

        (1)    Fees, charges, or other revenues payable to the Authority;

        (2)    Payments by financial institutions, insurance companies, or others pursuant to letters or lines of credit, policies of insurance, or purchase agreements;

        (3)    Investment earnings from funds or accounts maintained under a bond resolution or trust agreement;

        (4)    Proceeds of refunding bonds; and

        (5)    Any other source authorized by law.

    (b)    The bonds do not constitute a debt, liability, or pledge of full faith and credit of the State and may not be deemed to constitute a debt, liability, or pledge of the full faith and credit of the State.


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