GroundRules
← Search the law
Arizona · Snapshot 2026-08-09 · Newer source version available

A.R.S. § 48-154: Bonds payable only from revenue pledged; bonds not district indebtedness

Read at publisher ↗
Where this section sits in the code
  1. Title 48 Special Taxing Districts

No holder of any bonds issued under this article shall have the right to compel any exercise of the taxing power of the district to pay the bonds or the interest thereon. Each bond issued under this article shall recite in substance that the payment of the bond and the interest thereon is enforceable exclusively from the revenue pledged to its payment. Bonds issued under this article by the district shall not be a debt of the district, nor shall payment thereof be enforceable out of any funds other than the revenue pledged to the payment thereof.

Collected 2026-09-04T00:49:56Z. Source file · JSON

Browse this collection