Arizona § 48-5352 Bond obligations of the board

Arizona Statutes

§ 48-5352 — Bond obligations of the board

Arizona·Title 48 Arizona Revised Statutes·Ch. 30 REGIONAL TRANSPORTATION AUTHORITY·Art. 2 Financing

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 that are general, special or otherwise of this state or the county.

4.Are not a legal debt of this state or of the county.

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 that are general, special or otherwise of this state or the county.

4. Are not a legal debt of this state or of the county.

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.

Arizona § 48-5352 (Bond obligations of the board) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.