Arizona Revised Statutes § 36-491.06 Bond Obligations Of The Authority

36-491.06. Bond obligations of the authority

All bonds issued pursuant to this article shall be obligations of the authority and payable only in accordance with the terms thereof and shall not be obligations general, special or otherwise of this state. Such bonds shall not constitute a legal debt of this state, and shall not be enforceable against the state, nor shall payment thereof be enforceable out of any funds of the authority other than the income and revenue pledged and assigned to, or in trust for the benefit of, the holder or holders of such bonds.

Section: Previous  36-486  36-491  36-491.01  36-491.02  36-491.03  36-491.04  36-491.05  36-491.06  36-491.07  36-495  36-495.01  36-495.02  36-495.03  36-495.04  36-495.05  Next

Last modified: October 13, 2016