Arizona § 28-7655 Characteristics of bonds

Arizona Statutes

§ 28-7655 — Characteristics of bonds

Arizona·Title 28 Arizona Revised Statutes·Ch. 21 STATE HIGHWAY FINANCING AND BONDING·Art. 4 Bonds Secured by Bridge Construction or Highway Improvement Revenues

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Arizona § 28-7655 (Characteristics of bonds) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.