(1) Neither the members of a risk management pool's board of directors nor any person executing the bonds shall be liable personally on such bonds by reason of the issuance thereof.
(2) The bonds shall not be a debt, liability, or general obligation of any member of a risk management pool or of this state, and neither this state nor any member of a risk management pool shall be liable thereon. Neither the faith and credit nor the taxing power of any member of a risk management pool or of the state shall be pledged to the payment of the principal or interest on the bonds. Bonds shall be payable only out of any funds or properties of the issuing risk management pool. Such limitations shall be plainly stated upon the face of the bonds.
