Utah Code § 72-11-108

Revenue bonds not debt or obligation of state or committee
Open in Lexace · Ask the AI about this section
(1) In any and all revenue bonds issued hereunder and in the resolution or resolutions authorizing
them, and in the agreements or documents entered into and executed in connection therewith,
neither the payment of the principal or interest of any bond nor the obligation of any resolution,
agreement, or document shall constitute a debt, liability, or obligation of the state or the
committee.
(2) Payments are to be paid solely from the revenues received from the operation of the proposed
passenger ropeway transportation system, visitor care and accommodations, and all services
in connection with the Wasatch Mountain State Park, as in the proceedings authorizing the
issuance of the bonds, shall be pledged to the payment thereof.
(3) All bonds issued under this chapter by the committee shall contain a recital on their face that
neither the payment of the principal or any part thereof, nor any interest thereon, constitute a
debt, liability, or obligation of the state or the committee.

‹ Prev All Utah sections Next ›


Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.