Tennessee § 13-23-124 - Credit of state not pledged.
Full text of Tennessee Tennessee Code Annotated § 13-23-124 — Credit of state not pledged., with citation guidance and answers to common questions.
§ 13-23-124. Credit of state not pledged.
Obligations issued under this part shall not be deemed to constitute a debt, liability, or obligation of the state or of any other political subdivision thereof, nor a pledge of the full faith and credit of the state or any other political subdivision, but shall be payable solely from the revenues or assets of the agency. Each obligation issued under this chapter shall contain on the face thereof a statement to the effect that the agency shall not be obligated to pay the same, nor the interest thereon, except from the revenues or assets pledged therefor and that neither the full faith and credit, nor the taxing power of the state, or of any political subdivision thereof is pledged to the payment of the principal of or the interest on such obligation. All obligations of the agency issued under this part are revenue bonds or notes and are not general obligations of the state of Tennessee. Expenses incurred by the agency in carrying out this part may be made payable from funds provided pursuant to this part, and no liability is incurred by the agency hereunder beyond the extent to which moneys have been so provided. Acts 1973, ch. 241, § 14; 1974, ch. 702, § 9; T.C.A., § 13-2324.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 13-23-124
What does Tennessee Code Annotated § 13-23-124 cover?
Section 13-23-124 ("Credit of state not pledged.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 13-23-124?
A common citation format is "Tennessee Code Annotated § 13-23-124" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 13-23-124 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.