Utah Code Title 63H. Independent State Entities § 63H-8-403. Notes, bonds, other obligations--Not a debt liability--Expenses payable from funds provided--Corporation without authority to incur liability on behalf of state--Relationship to Governmental Immunity Act of Utah

(1)(a)(i) Notes, bonds, and other obligations issued under this chapter are not a debt or liability of the state or of a county, city, town, school district, or other political subdivision of the state.

(ii) The notes, bonds, or other obligations do not constitute the loaning of credit of the state or of a county, city, town, school district, or other political subdivision of the state.

(iii) The notes, bonds, or other obligations are not payable from money other than that of the corporation.

(i) the corporation shall pay the note, bond, or obligation solely from the revenues or other money of the corporation;

(ii) neither the state nor any of its political subdivisions are obligated to pay the note, bond, or obligation; and

(iii) neither the faith and credit nor the taxing power of the state or any of its political subdivisions are pledged to the payment of principal, redemption price of, or the interest on, the notes, bonds, or other obligations.

(i) a failure to fulfill a contractual obligation of the corporation;

(ii) an act or failure to act by the corporation or its trustees, officers, employees, agents, or representatives; or

(iii) failure of the corporation to comply with the requirements of any law or regulation.