Arizona § 35-451 Local debt limit; increase in limitation; authority to issue bonds; definitions

Arizona Statutes

§ 35-451 — Local debt limit; increase in limitation; authority to issue bonds; definitions

Arizona § 35-451

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 3County and Other Municipal Indebtedness

This text of Arizona § 35-451 (Local debt limit; increase in limitation; authority to issue bonds; definitions) 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. § 35-451 (2026).

Text

A.The aggregate indebtedness of a county, city, town or similar municipal corporation may be increased above six percent of the net assessed value of the full cash value of the property in such a political subdivision only as provided in this article.

B.A multi-county water conservation district may become indebted and issue bonds in the manner provided in this article.

C.Bonds may be issued under this article for any lawful or necessary purpose.

D.For the purposes of this section, "full cash value" and "net assessed value" have the same meanings prescribed in section 42-11001.

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A. The aggregate indebtedness of a county, city, town or similar municipal corporation may be increased above six percent of the net assessed value of the full cash value of the property in such a political subdivision only as provided in this article.

B. A multi-county water conservation district may become indebted and issue bonds in the manner provided in this article.

C. Bonds may be issued under this article for any lawful or necessary purpose.

D. For the purposes of this section, "full cash value" and "net assessed value" have the same meanings prescribed in section 42-11001.