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2012 Arizona Revised Statutes
Title 17 Game and Fish
17-285 Bonds as legal investments; state nonliability

Universal Citation:
AZ Rev Stat § 17-285 (through 2nd Reg Sess. 50th Leg. 2012)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

17-285. Bonds as legal investments; state nonliability

A. Bonds issued under this article are legal investments for all banks, trust companies and insurance companies organized and operating under the laws of this state.

B. The bonds and interest on the bonds shall be paid solely according to their terms and are not obligations general, special or otherwise of this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. The commission is not in any event liable for the payment of the principal of or interest on the bonds from any source of revenues other than those pledged for the payment of the bonds. The bonds shall not be construed to constitute an indebtedness of the commission within the meaning of any constitutional or statutory provision.

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