49-1279. 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
general obligations, special obligations 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.