Arizona § 28-7655 Characteristics of bonds

Arizona Statutes

§ 28-7655 — Characteristics of bonds

Arizona § 28-7655

Title 28Arizona Revised Statutes

Ch. 21STATE HIGHWAY FINANCING AND BONDING

Art. 4Bonds Secured by Bridge Construction or Highway Improvement Revenues

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Bluebook

Ariz. Rev. Stat. Ann. § 28-7655 (2026).

Text

The bonds issued under this article:

1.Are fully negotiable within the meaning and for all purposes provided by title 47.

2.Are payable only according to their terms from bridge construction revenues or highway improvement revenues, as applicable, and are not general, special or other obligations of the issuing county or this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. Payment of the bonds shall not be made from any monies other than those allowed to be pledged.

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The bonds issued under this article:

1. Are fully negotiable within the meaning and for all purposes provided by title 47.

2. Are payable only according to their terms from bridge construction revenues or highway improvement revenues, as applicable, and are not general, special or other obligations of the issuing county or this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. Payment of the bonds shall not be made from any monies other than those allowed to be pledged.