17D-2-506. Other entities not responsible for local building authority bonds or breach of mortgage and other obligations.
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17D-2-506. Other entities not responsible for local building authority bonds or breach of mortgage and other obligations.
(1)Nothing in this part may be construed to require:
(a)the state or any political subdivision of the state to pay a bond issued under this part;
(b)the state or, except the creating local entity, any political subdivision of the state to pay any rent or lease payment due to a local building authority under the terms of a lease agreement; or
(c)the creating local entity to appropriate money to pay:
(i)principal of or interest on bonds issued by a local building authority; or
(ii)the lease payments under a lease agreement with the local building authority.
(2)A breach of a mortgage or a covenant or agreement in a mortgage may not impose a general obligation or liability upon or a charge against:
(a)the creating local entity; or
(b)the general credit or taxing power of the state or any political subdivision of the state.
Amended by Chapter 356 , 2009 General Session