Arizona § 15-1691 Bonds; obligations of board

Arizona Statutes

§ 15-1691 — Bonds; obligations of board

Arizona § 15-1691

Title 15Arizona Revised Statutes

Ch. 13UNIVERSITIES

Art. 5Issuance of Bonds

This text of Arizona § 15-1691 (Bonds; obligations of board) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 15-1691 (2026).

Text

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

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