Current through L. 2024, ch. 259
Section 5-1170 - Payment of bondsA. 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.If a majority of the qualified electors voting on the issue in the first election held pursuant to section 5-1103, Arizona Revised Statutes, as added by this act, reject the levy of taxes and issuance of bonds for the purposes of establishing a sports authority district, title 5, chapter 9, Arizona Revised Statutes, as added by this act, is repealed.