2005 Arizona Revised Statutes - Revised Statutes §28-7687 Nature of highway project advancement notes; limited obligation
A. Highway project advancement notes issued pursuant to this article are not general obligations of a city or town, any public officer or employee of a city or town or this state.
B. Highway project advancement notes are limited obligations of the issuer of the notes and are payable solely from highway project advance revenues received by the city or town and, if provided by the city or town at the time of authorizing the issuance of those highway project advancement notes, other monies lawfully available for application to that purpose and pledged to the payment of the principal, premium, if any, and interest on the notes.
C. A holder of a highway project advancement note may not compel the payment of highway project advance revenues to the city or town.
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