Arizona § 15-1488 - Bonds obligations issued for and on behalf of institutions
Full text of Arizona Arizona Revised Statutes § 15-1488 — Bonds obligations issued for and on behalf of institutions, with citation guidance and answers to common questions.
§ 15-1488. Bonds obligations issued for and on behalf of institutions
All bonds issued pursuant to this article shall be obligations issued by the board for and on behalf of the institution payable only in accordance with the terms thereof, and shall not be obligations general, special or otherwise of the state of Arizona. Such bonds shall not constitute a debt, legal or moral, of the state of Arizona, and shall not be enforceable against this state, nor shall payment thereof be enforceable out of any funds of the institution issuing said bonds other than the income and revenue pledged and assigned to, or in trust for the benefit of, the holder or holders of such bonds. No institution shall be dissolved until all of the bonds issued by the board for and on behalf of the institution have been paid in full.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 15-1488
What does Arizona Revised Statutes § 15-1488 cover?
Section 15-1488 ("Bonds obligations issued for and on behalf of institutions") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 15-1488?
A common citation format is "Arizona Revised Statutes § 15-1488" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 15-1488 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.