Utah Statutes
§ 11-68-504 — Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.
Utah·Title 11 Cities, Counties, and Local Taxing Units·Ch. 11-68 State Fair Park Authority Act·Part 11-68-5 Authority Bonds
(1)A member of the board or other person executing an authority bond is not liable personally on the bond.
(2)(2)(a) A bond issued by the authority is not an obligation or liability of the state or any of the state's political subdivisions, except the authority, and does not constitute a charge against the general credit or taxing powers of the state or other political subdivisions of the state.
(2)(b) A bond issued by the authority is not payable out of any funds other than those of the authority.
(2)(c) The state and any political subdivision of the state, other than the authority, may not be liable on a bond issued by the authority.
(2)(d) A bond issued by the authority does not constitute indebtedness within the meaning of any constitutional or statutory debt limitation.
(3)A bond i
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Utah § 11-68-504 (Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 502, 2023 General Session
Nearby Sections
15
§ 11-1-4
Sinking fund -- Investment.§ 11-1-6
Violation of act a misdemeanor.§ 11-10-2
Qualifications of licensee.§ 11-10-3
License fee.§ 11-13-101
Title.§ 11-13-102
Purpose of chapter.§ 11-13-103
Definitions.