Arizona § 48-148 Charges for payment of undertaking

Arizona Statutes

§ 48-148 — Charges for payment of undertaking

Arizona § 48-148

Title 48Arizona Revised Statutes

Ch. 1GENERAL PROVISIONS

Art. 4Issuance of Revenue Bonds by Irrigation and Agricultural Improvement Districts

This text of Arizona § 48-148 (Charges for payment of undertaking) 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. § 48-148 (2026).

Text

A.The board of directors of the district issuing the bonds shall prescribe charges and revise them whenever necessary so that any undertaking for which the bonds were issued shall always remain self-supporting with revenue sufficient:

1.To pay when due all bonds and interest thereon, for the payment of which the revenue has been pledged, encumbered or charged.

2.To provide for all expenses of operation, maintenance, expansion and replacement of facilities.

3.To provide reasonable reserves for such purposes.

B.Until the payment of all bonds on an undertaking issued under this article, neither the receipts nor expenditures in connection with the operation of the undertaking shall be included in any budget of the district, and the actual expenditures from the funds, other than for bo

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A. The board of directors of the district issuing the bonds shall prescribe charges and revise them whenever necessary so that any undertaking for which the bonds were issued shall always remain self-supporting with revenue sufficient:

1. To pay when due all bonds and interest thereon, for the payment of which the revenue has been pledged, encumbered or charged.

2. To provide for all expenses of operation, maintenance, expansion and replacement of facilities.

3. To provide reasonable reserves for such purposes.

B. Until the payment of all bonds on an undertaking issued under this article, neither the receipts nor expenditures in connection with the operation of the undertaking shall be included in any budget of the district, and the actual expenditures from the funds, other than for bond interest and redemption, shall be deemed to have been included in and to have constituted a part of the budget adopted by the district for the fiscal year in which the bonds were so paid.