Arizona § 35-467.08 Prohibition against obligating state or political subdivisions; payment from revenues

Arizona Statutes

§ 35-467.08 — Prohibition against obligating state or political subdivisions; payment from revenues

Arizona § 35-467.08

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 3.Revenue Anticipation Notes

This text of Arizona § 35-467.08 (Prohibition against obligating state or political subdivisions; payment from revenues) 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. § 35-467.08 (2026).

Text

This state or a political subdivision is not liable for the payment of the principal or interest on any revenue anticipation notes. Revenue anticipation notes are not obligations of this state or a political subdivision and do not constitute a debt, legal or moral, of this state or a political subdivision. The payment of the principal and interest on such notes shall not be made from or be enforceable against any monies of this state or a political subdivision other than revenues which have been paid into a revenue anticipation note principal and interest redemption fund established pursuant to section 35-467.04. A holder of a revenue anticipation note shall not compel the payment of grant revenues to an issuer.

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This state or a political subdivision is not liable for the payment of the principal or interest on any revenue anticipation notes. Revenue anticipation notes are not obligations of this state or a political subdivision and do not constitute a debt, legal or moral, of this state or a political subdivision. The payment of the principal and interest on such notes shall not be made from or be enforceable against any monies of this state or a political subdivision other than revenues which have been paid into a revenue anticipation note principal and interest redemption fund established pursuant to section 35-467.04. A holder of a revenue anticipation note shall not compel the payment of grant revenues to an issuer.