49-1263. Bond obligations of the
authority
Bonds issued under this article are obligations of the water infrastructure finance
authority of Arizona, are payable only according to their terms and are not obligations
general, special or otherwise of this state. The bonds do not constitute a legal debt of
this state and are not enforceable against this state. Payment of the bonds is not
enforceable out of any state monies other than the income and revenue pledged and
assigned to, or in trust for the benefit of, the holder or holders of the bonds.
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