Utah Statutes
§ 63H-1-604 — Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.
Utah·Title 63H Independent State Entities·Ch. 63H-1 Military Installation Development Authority Act·Part 63H-1-6 Authority Bonds
(1)A member of the authority 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 a general obligation or liability of the state or any of its political subdivisions and does not constitute a charge against their general credit or taxing powers.
(2)(b) A bond issued by the authority is not payable out of any funds or properties other than those of the authority.
(2)(c) The community, the state, and its political subdivisions 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 issued by the authority under this part is fully negotiable.
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Utah § 63H-1-604 (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 23, 2007 General Session
Nearby Sections
15
§ 63H-1-101
Title.§ 63H-1-102
Definitions.§ 63H-1-103
Severability.§ 63H-1-202
Applicability of other law.§ 63H-1-204
MIDA energy tax.§ 63H-1-205
MIDA accommodations tax.§ 63H-1-208
Former rail line.§ 63H-1-209
Immunity from contaminated property claims.§ 63H-1-301
Authority board -- Delegation of power.§ 63H-1-302
Number of board members -- Appointment.