Common use of Liability of Authority Clause in Contracts

Liability of Authority. Notwithstanding any provision of the Bonds or the Basic Documents to the contrary, the obligations of the Authority under the Bonds and the Basic Documents are not general obligations of the Authority, but are limited obligations payable solely from the revenues which are specifically pledged for such purpose. Neither the Bonds nor the Basic Documents will be deemed to create or constitute a debt or a pledge of the faith and credit of the Commonwealth or any political subdivision thereof, including the City, and neither the Commonwealth nor any political subdivision thereof, including the Authority, is obligated to pay the Bonds or the interest thereon or other costs incident thereto except from the special funds pledged therefor and the property pledged or mortgaged therefor.

Liability of Authority. Notwithstanding any provision of the Bonds or the Basic Documents to the contrary, the obligations of the Authority under the Bonds and the Basic Documents are not general obligations of the Authority, Authority but are limited obligations payable solely from the revenues which are specifically pledged for such purpose. Neither the Bonds nor the Basic Documents will be deemed to create or constitute a debt or a pledge of the faith and credit of the Commonwealth or any political subdivision thereof, including the CityCounty, and neither the Commonwealth nor any political subdivision thereof, including the AuthorityAuthority and the County, is obligated to pay the Bonds or the interest thereon or other costs incident thereto except from the special funds pledged therefor and the property pledged or mortgaged therefor. The Authority has no taxing power.