11-25-9. Bonds payable solely from revenues -- Cities, towns, and counties not obligated.
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/ut/title-11/chapter-25/11-25-9A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 may 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 may 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.
Amended by Chapter 378 , 2010 General Session