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Utah Code § 17D-2-506

Other entities not responsible for local building authority bonds or breach of mortgage and other obligations

Amended by Chapter 356, 2009 General Session

(1) Nothing in this part may be construed to require:

(a) the state or any political subdivision of the state to pay a bond issued under this part;

(b) the state or, except the creating local entity, any political subdivision of the state to pay any rent or lease payment due to a local building authority under the terms of a lease agreement; or

(c) the creating local entity to appropriate money to pay:

(i) principal of or interest on bonds issued by a local building authority; or

(ii) the lease payments under a lease agreement with the local building authority.

(2) A breach of a mortgage or a covenant or agreement in a mortgage may not impose a general obligation or liability upon or a charge against:

(a) the creating local entity; or

(b) the general credit or taxing power of the state or any political subdivision of the state.

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