Arizona § 28-7572 Bond obligations of the board

Arizona Statutes

§ 28-7572 — Bond obligations of the board

Arizona § 28-7572

Title 28Arizona Revised Statutes

Ch. 21STATE HIGHWAY FINANCING AND BONDING

Art. 2Regional Area Road Fund Bonds

This text of Arizona § 28-7572 (Bond obligations of the 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. § 28-7572 (2026).

Text

Bonds issued pursuant to this article:

1.Are obligations of the board issuing the bonds.

2.Are payable only pursuant to the terms of the bonds.

3.Are not obligations general, special or otherwise of this state.

4.Are not a legal debt of this state or of the respective county imposing the transportation excise tax.

5.Are not enforceable against this state or that county 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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Bonds issued pursuant to this article:

1. Are obligations of the board issuing the bonds.

2. Are payable only pursuant to the terms of the bonds.

3. Are not obligations general, special or otherwise of this state.

4. Are not a legal debt of this state or of the respective county imposing the transportation excise tax.

5. Are not enforceable against this state or that county 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.