Arizona § 35-465.01 Tax anticipation notes

Arizona Statutes

§ 35-465.01 — Tax anticipation notes

Arizona § 35-465.01

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 3.Tax Anticipation Notes

This text of Arizona § 35-465.01 (Tax anticipation notes) 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. § 35-465.01 (2026).

Text

After a taxing district has adopted a budget for the current fiscal year as provided by law and the governing body thereof ascertains that the taxes to be received by such district will not be received in time to pay the district's projected expenses, as set forth in such budget, the governing body may issue and sell tax anticipation notes, the principal and interest on which are to be paid solely from the taxes estimated by such taxing district to be received for the current fiscal year and from the proceeds of the sale of such notes.

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After a taxing district has adopted a budget for the current fiscal year as provided by law and the governing body thereof ascertains that the taxes to be received by such district will not be received in time to pay the district's projected expenses, as set forth in such budget, the governing body may issue and sell tax anticipation notes, the principal and interest on which are to be paid solely from the taxes estimated by such taxing district to be received for the current fiscal year and from the proceeds of the sale of such notes.