State Codes and Statutes

Statutes > Utah > Title-09 > Chapter-04 > 9-4-917

9-4-917. Notes, bonds, other obligations -- Not debt liability -- Expenses payablefrom funds provided -- Corporation without authority to incur liability on behalf of state --Relationship to Governmental Immunity Act of Utah.
(1) (a) Notes, bonds, and other obligations issued under this part do not constitute a debtor liability of this state or of any county, city, town, village, school district, or any other politicalsubdivision of the state, nor shall the notes, bonds, or other obligations constitute the loaning ofcredit of the state or of any county, city, town, township, district, or any other politicalsubdivision of the state, nor may the notes, bonds, or other obligations be payable from fundsother than those of the corporation.
(b) All notes, bonds, or other obligations shall contain on their face a statement to theeffect that:
(i) the corporation is obligated to pay the note, bond, or obligation solely from therevenues or other funds of the corporation;
(ii) neither this state nor any political subdivision of it is obligated to pay the note, bond,or obligation; and
(iii) neither the faith and credit nor the taxing power of this state or any politicalsubdivision of it is pledged to the payment of principal, or redemption price of, or the interest onthe notes, bonds, or other obligations.
(2) All expenses incurred in carrying out this act shall be payable solely from fundsprovided under this part, and nothing in this part shall be construed to authorize the corporationto incur indebtedness or liability on behalf of or payable by this state or any political subdivisionof it.
(3) (a) Title 63G, Chapter 7, Governmental Immunity Act of Utah, shall apply to thecorporation.
(b) Notwithstanding Subsection (3)(a), no claim may be brought against the state, anypublic official or employee of the state, another public entity, or any public official or employeeof another public entity, based on or arising from:
(i) any failure or alleged failure to fulfill a contractual obligation of the corporation;
(ii) any act or failure to act of the corporation or any of its trustees, officers, employees,agents, or representatives; or
(iii) any failure of the corporation to comply with the requirements of any law orregulation.
(c) The provisions of Subsection (3)(b) do not apply to a claim of a current or formerofficer or employee of the corporation for the retirement or insurance benefits.

Amended by Chapter 382, 2008 General Session