Arizona § 28-7657 Pledge of revenues to secure debt instruments

Arizona Statutes

§ 28-7657 — Pledge of revenues to secure debt instruments

Arizona § 28-7657

Title 28Arizona Revised Statutes

Ch. 21STATE HIGHWAY FINANCING AND BONDING

Art. 4Bonds Secured by Bridge Construction or Highway Improvement Revenues

This text of Arizona § 28-7657 (Pledge of revenues to secure debt instruments) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 28-7657 (2026).

Text

A.Notwithstanding any other provision of this article, a county that receives bridge construction revenues may pledge, by separate covenant included in the resolution authorizing the issuance of bridge construction revenue bonds under this article or obligations it may incur, future receipts of the revenues to the payment of the bridge construction revenue bonds or to the costs of the bridge. The pledge may be included in the resolution authorizing the issuance of the bonds. The resolution authorizing the issuance of the bonds may also authorize assigning bridge construction revenues to a trustee or paying agent to secure the bonds.

B.Notwithstanding any other provision of this article, a county that receives highway improvement revenues may pledge, by separate covenant included in the

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A. Notwithstanding any other provision of this article, a county that receives bridge construction revenues may pledge, by separate covenant included in the resolution authorizing the issuance of bridge construction revenue bonds under this article or obligations it may incur, future receipts of the revenues to the payment of the bridge construction revenue bonds or to the costs of the bridge. The pledge may be included in the resolution authorizing the issuance of the bonds. The resolution authorizing the issuance of the bonds may also authorize assigning bridge construction revenues to a trustee or paying agent to secure the bonds.

B. Notwithstanding any other provision of this article, a county that receives highway improvement revenues may pledge, by separate covenant included in the resolution authorizing the issuance of highway improvement revenue bonds under this article or obligations it may incur, future receipts of the revenues to the payment of the highway improvement revenue bonds or to the costs of the highway improvements. The pledge may be included in the resolution authorizing the issuance of the bonds. The resolution authorizing the issuance of the bonds may also authorize assigning highway improvement revenues to a trustee or paying agent to secure the bonds.