Nothing in this act or any other law shall be construed as authorizing a dormitory housing commission to levy or collect taxes or assessments, to create any indebtedness payable out of taxes or assessments, or in any manner to pledge the credit of the junior college district, the state or any subdivision thereof; nor shall any provision of this act or other law be construed as authorizing a dormitory housing commission to mortgage or otherwise encumber property of any kind, real, personal or mixed, or any interest therein, but this section shall not be construed as preventing the pledge of the revenues of a dormitory housing commission as authorized in this act.
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