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A.R.S. § 5-1170

Payment of bonds

(Conditionally Rpld.)

A. The bonds shall be paid solely from monies in the debt service account.

B. The members of the authority board and any persons who execute the bonds are not personally liable for the payment of the bonds.

C. The authority's fiscal agent shall cancel all bonds when paid.

Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.