49-1279. Bond obligations of the authority
Bonds issued under this article are obligations of the water infrastructure finance authority of Arizona, are payable only according to their terms and are not general obligations, special obligations or otherwise of this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. Payment of the bonds is not enforceable out of any state 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.
Section: Previous 49-1272 49-1273 49-1274 49-1275 49-1276 49-1277 49-1278 49-1279 49-1280 49-1281 49-1282 49-1301 49-1302 49-1303 49-1401 NextLast modified: October 13, 2016