Arizona § 5-1462 Obligations for the bonds

Arizona Statutes

§ 5-1462 — Obligations for the bonds

Arizona § 5-1462

Title 5Arizona Revised Statutes

Ch. 12SOUTHERN ARIZONA SPORTS, TOURISM AND FILM AUTHORITY

Art. 3Revenue Bonds

This text of Arizona § 5-1462 (Obligations for the bonds) 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. § 5-1462 (2026).

Text

Bonds issued under this article:

1.Are payable only according to their terms.

2.Are obligations of the authority.

3.Are not general, special or other obligations of this state, or of the county or any city or town located in the authority. The members of the board and persons who execute the bonds are not personally liable for the payment of the bonds.

4.Do not constitute a debt of this state or of the county or any city or town located in the authority.

5.Are not enforceable against this state. Payment of the bonds is enforceable only out of any monies or assets of the authority specifically pledged and assigned to or in trust for the benefit of the holder or holders of the bonds.

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Bonds issued under this article:

1. Are payable only according to their terms.

2. Are obligations of the authority.

3. Are not general, special or other obligations of this state, or of the county or any city or town located in the authority. The members of the board and persons who execute the bonds are not personally liable for the payment of the bonds.

4. Do not constitute a debt of this state or of the county or any city or town located in the authority.

5. Are not enforceable against this state. Payment of the bonds is enforceable only out of any monies or assets of the authority specifically pledged and assigned to or in trust for the benefit of the holder or holders of the bonds.