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Ariz. Rev. Stat. § 5-1470 – Payment of bonds | Midpage
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Arizona Revised Statutes
Title 5
Chapter 12
Article 3
§ 5-1470
Ariz. Rev. Stat. § 5-1470
Payment of bonds
A. The bonds shall be paid solely from monies in the debt service account.
B. The members of the 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.