Arizona § 35-468.04 Pledge of revenues to secure debt instruments

Arizona Statutes

§ 35-468.04 — Pledge of revenues to secure debt instruments

Arizona § 35-468.04

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 3.Bonds Secured by Water Transportation Revenues

This text of Arizona § 35-468.04 (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. § 35-468.04 (2026).

Text

Notwithstanding any other provision of this article, a political subdivision that receives water transportation revenues may pledge, by separate covenant included in the resolution authorizing the issuance of any bonds under this article or obligations it may incur, future receipts of such revenues to the payment of those bonds or obligations. The resolution authorizing those bonds or obligations may also provide for the assignment of such revenues to a trustee or paying agent for the purpose of securing the bonds. The pledge may be included in the resolution whether or not a reference to the pledge was included in the ballot submitted to the electorate of the political subdivision at the election authorizing the issuance of the bonds or obligations.

Free access — add to your briefcase to read the full text and ask questions with AI

Notwithstanding any other provision of this article, a political subdivision that receives water transportation revenues may pledge, by separate covenant included in the resolution authorizing the issuance of any bonds under this article or obligations it may incur, future receipts of such revenues to the payment of those bonds or obligations. The resolution authorizing those bonds or obligations may also provide for the assignment of such revenues to a trustee or paying agent for the purpose of securing the bonds. The pledge may be included in the resolution whether or not a reference to the pledge was included in the ballot submitted to the electorate of the political subdivision at the election authorizing the issuance of the bonds or obligations.