Arizona Revised Statutes § 48-4252 Bond Obligations Of The District

48-4252. Bond obligations of the district

Bonds issued under this article are obligations of the county stadium district, are payable only according to their terms from revenues from the taxes and surcharges levied pursuant to article 2 of this chapter and are not general, special or other obligations of this state or the county. The bonds do not constitute a legal debt of this state or the county and are not enforceable against this state or the county. Payment of the bonds is not enforceable out of any monies other than the income and revenue pledged and assigned to, or in trust for the benefit of, the holder or holders of the bonds.

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Last modified: October 13, 2016