2006 Utah Code - 9-4-917 — Notes, bonds, other obligations -- Not debt liability -- Expenses payable from funds provided -- Corporation without authority to incur liability on behalf of state -- Relationship to Governmental Immunity Act of Utah.

     9-4-917.   Notes, bonds, other obligations -- Not debt liability -- Expenses payable from funds provided -- Corporation without authority to incur liability on behalf of state -- Relationship to Governmental Immunity Act of Utah.
     (1) (a) Notes, bonds, and other obligations issued under this part do not constitute a debt or liability of this state or of any county, city, town, village, school district, or any other political subdivision of the state, nor shall the notes, bonds, or other obligations constitute the loaning of credit of the state or of any county, city, town, township, district, or any other political subdivision of the state, nor may the notes, bonds, or other obligations be payable from funds other than those of the corporation.
     (b) All notes, bonds, or other obligations shall contain on their face a statement to the effect that:
     (i) the corporation is obligated to pay the note, bond, or obligation solely from the revenues or other funds of the corporation;
     (ii) neither this state nor any political subdivision of it is obligated to pay the note, bond, or obligation; and
     (iii) neither the faith and credit nor the taxing power of this state or any political subdivision of it is pledged to the payment of principal, or redemption price of, or the interest on the notes, bonds, or other obligations.
     (2) All expenses incurred in carrying out this act shall be payable solely from funds provided under this part, and nothing in this part shall be construed to authorize the corporation to incur indebtedness or liability on behalf of or payable by this state or any political subdivision of it.
     (3) (a) Title 63, Chapter 30d, Governmental Immunity Act of Utah, shall apply to the corporation.
     (b) Notwithstanding Subsection (3)(a), no claim may be brought against the state, any public official or employee of the state, another public entity, or any public official or employee of another public entity, based on or arising from:
     (i) any failure or alleged failure to fulfill a contractual obligation of the corporation;
     (ii) any act or failure to act of the corporation or any of its trustees, officers, employees, agents, or representatives; or
     (iii) any failure of the corporation to comply with the requirements of any law or regulation.
     (c) The provisions of Subsection (3)(b) do not apply to a claim of a current or former officer or employee of the corporation for the retirement or insurance benefits.

Amended by Chapter 102, 2005 General Session