Section 604 – Limited obligations.

Effective 1/24/2018
53G-5-604. Limited obligations.
Except as provided in Section 53G-5-607, 53G-5-608, or 53G-5-609, 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, school district, or any other political subdivision of the state; and

• (3) may not be paid from funds other than loan payments or lease revenues received from a charter school or other funds pledged by a charter school.

Renumbered and Amended by Chapter 3, 2018 General Session