2006 Utah Code - 11-25-9 — Bonds payable solely from revenues -- Cities, towns and counties not obligated.

     11-25-9.   Bonds payable solely from revenues -- Cities, towns and counties not obligated.
     Revenues shall be the sole source of funds pledged by the agency for repayment of its bonds. Bonds issued under the provisions of this part shall not be deemed to constitute a debt or liability of the agency or a pledge of the faith and credit of the agency but shall be payable solely from revenues. The issuance of bonds shall not directly, indirectly, or contingently obligate a city, town or county, or a city or town and county which has designated its governing body as an agency to levy or pledge any form of taxation or to make any appropriation for payment of bonds issued by an agency.

Enacted by Chapter 276, 1977 General Session