Arizona § 30-1012 Transition bonds; public debt prohibition

Arizona Statutes

§ 30-1012 — Transition bonds; public debt prohibition

Arizona § 30-1012

Title 30Arizona Revised Statutes

Ch. 8UTILITY SECURITIZATION

Art. 1General Provisions

This text of Arizona § 30-1012 (Transition bonds; public debt prohibition) 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. § 30-1012 (2026).

Text

A.Transition bonds are not a public debt, a lien nor a pledge of the revenues, faith and credit or taxing power of a public power entity, this state or any county, municipality or other local government unit of this state. The approval of a financing resolution does not obligate this state or any county, municipality or political subdivision of this state to levy any tax or make any appropriation for payment of any financing cost, including the principal and interest on transition bonds. This state or a county, municipality or political subdivision of this state may not levy any tax on holders of transition bonds or owners of transition property.

B.Transition bonds are not an obligation, debt, lien or pledge of the assets or revenues of the public power entity. Approval is not requir

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A. Transition bonds are not a public debt, a lien nor a pledge of the revenues, faith and credit or taxing power of a public power entity, this state or any county, municipality or other local government unit of this state. The approval of a financing resolution does not obligate this state or any county, municipality or political subdivision of this state to levy any tax or make any appropriation for payment of any financing cost, including the principal and interest on transition bonds. This state or a county, municipality or political subdivision of this state may not levy any tax on holders of transition bonds or owners of transition property.

B. Transition bonds are not an obligation, debt, lien or pledge of the assets or revenues of the public power entity. Approval is not required under section 40-302 or any other provision of law for the approval of a financing resolution, for the issuance of transition bonds, for the sale of transition bonds or for an assignment or transfer of transition property or any interest in transition property that is authorized by this chapter.