§ 63H-1-604. Those executing bonds not personally liable -- Limitation of obligations under bonds -- Negotiability.

Latest version.

(1)	A member of the authority board or other person executing an authority bond is not liable personally on the bond.

(2)

(a)	A bond issued by the authority is not a general obligation or liability of the state or any of its political subdivisions and does not constitute a charge against their general credit or taxing powers.

(b)	A bond issued by the authority is not payable out of any funds or properties other than those of the authority.

(c)	The community, the state, and its political subdivisions may not be liable on a bond issued by the authority.

(d)	A bond issued by the authority does not constitute indebtedness within the meaning of any constitutional or statutory debt limitation.

(3)	A bond issued by the authority under this part is fully negotiable.

Enacted by Chapter 23, 2007 General Session

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');