40-1136. Bond obligations of the metropolitan
public transit authority
All bonds issued pursuant to this article shall be obligations of the authority
issuing such bonds, and payable only in accordance with the terms thereof and shall not
be obligations general, special or otherwise of the state of Arizona or any county or
municipality thereof. Such bonds shall not constitute a legal debt of the state of
Arizona or any county or municipality thereof, and shall not be enforceable out of any
funds of the authority other than the income and revenue pledged and assigned to, or in
trust for the benefit of, the holder or holders of such bonds.
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