Bonds issued under this article are obligations of the county stadium district, are payable only according to their terms from revenues from the taxes and surcharges levied pursuant to article 2 of this chapter and are not general, special or other obligations of this state or the county. The bonds do not constitute a legal debt of this state or the county and are not enforceable against this state or the county. Payment of the bonds is not enforceable out of any monies other than the income and revenue pledged and assigned to, or in trust for the benefit of, the holder or holders of the bonds.

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Terms Used In Arizona Laws 48-4252

  • District: means any county stadium district established pursuant to section 48-4202, subsection A, B or C. See Arizona Laws 48-4201
  • Stadium: means a sports facility or facilities located in the district and designed to accommodate, but not be limited to, major league baseball events or intercollegiate athletic events. See Arizona Laws 48-4201