LET THEIR WORDS – BE THEIR BONDS!

FED UP in RI

disputing-contract_645x400

As spelled out in the:

“Loan and Trust Agreement among RHODE ISLAND ECONOMIC DEVELOPMENT CORPORATION and 38 Studios, LLC. and the Bank of New York Mellon Trust Company” 

@ Page #9 :

“Neither the State of Rhode Island nor any municipality thereof shall be obligated to pay the principal of the bonds, the premium, if any, the Redemption Price, or the interest thereon. Neither the faith and credit, nor the taking and taxing power of the State of Rhode Island, any political subdivision thereof, or any municipality thereof, is pledged to the payment of the principal of the bonds, the premium, the redemption price or the interest thereon. The bonds do not now and shall never constitute a debt or liability of the State of Rhode Island, or any municipality thereof or bonds issued or guaranteed by them within the meaning of any constitutional or statutory limitation….”

“The…

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