Utah § 11-65-504 Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.

Utah Statutes

§ 11-65-504 — Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.

Utah § 11-65-504

Title 11Cities, Counties, and Local Taxing Units

Ch. 11-65Utah Lake Authority Act

Part 11-65-5Lake Authority Bonds

This text of Utah § 11-65-504 (Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 11-65-504 (2026).

Text

(1)A member of the board or other person executing a lake authority bond is not liable personally on the bond.

(2)(2)(a) A bond issued by the lake authority is not a general obligation or liability of the state or any of the state's political subdivisions and does not constitute a charge against the general credit or taxing powers of the state or any of the state's political subdivisions.

(2)(b) A bond issued by the lake authority is not payable out of any funds or properties other than those of the lake authority.

(2)(c) The state and the state's political subdivisions are not and may not be held liable on a bond issued by the lake authority.

(2)(d) A bond issued by the lake authority does not constitute indebtedness within the meaning of any constitutional or statutory debt limitation.

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(1) A member of the board or other person executing a lake authority bond is not liable personally on the bond.
(2) (2)(a) A bond issued by the lake authority is not a general obligation or liability of the state or any of the state's political subdivisions and does not constitute a charge against the general credit or taxing powers of the state or any of the state's political subdivisions.
(2)(b) A bond issued by the lake authority is not payable out of any funds or properties other than those of the lake authority.
(2)(c) The state and the state's political subdivisions are not and may not be held liable on a bond issued by the lake authority.
(2)(d) A bond issued by the lake authority does not constitute indebtedness within the meaning of any constitutional or statutory debt limitation.
(3) A bond issued by the lake authority under this part is fully negotiable.