17D-2-506 - Other entities not responsible for local building authority bonds or breach of mortgage and other obligations.
17D-2-506. Other entities not responsible for local building authority bonds orbreach 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 topay any rent or lease payment due to a local building authority under the terms of a leaseagreement; 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 ageneral 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