35-468.06 - Arizona Statutes

35-468.06. Bonds as obligation of political subdivision Bonds issued under this article are obligations of the issuing political subdivision, are payable only according to their terms and are not general, special or other obligations of this state. The bonds do not constitute a legal debt of this state and are not enforceable against this state. Payment of the bonds is not enforceable out of any state monies other than the revenue pledged and assigned to, or in trust for the benefit of, the holders of the bonds.