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

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

Amended by Chapter 378, 2010 General Session