53A-20b-105 - Limited obligations.
53A-20b-105. Limited obligations.
Bonds, notes, and other obligations issued by the authority:
(1) do not constitute a debt, moral obligation, or liability of the state, or of any county,city, town, school district, or any other political subdivision of the state;
(2) do not constitute the loan of credit of the state or of any county, city, town, schooldistrict, or any other political subdivision of the state; and
(3) may not be paid from funds other than loan payments or lease revenues received froma charter school or other funds pledged by a charter school.
Enacted by Chapter 167, 2007 General Session