Arizona § 48-2464 Powers of district

Arizona Statutes

§ 48-2464 — Powers of district

Arizona § 48-2464

Title 48Arizona Revised Statutes

Ch. 17AGRICULTURAL IMPROVEMENT DISTRICTS

Art. 7Revenue Bonds

This text of Arizona § 48-2464 (Powers of district) 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. § 48-2464 (2026).

Text

In the exercise of the powers granted or permitted by law, the district shall have the additional power:

1.To issue its bonds to finance, in whole or in part, the costs of any undertaking.

2.To pledge to the punctual payment of the bonds and interest thereon the revenue of the district, or any part thereof, or all or any part of the revenue from the undertaking, including improvements or extensions thereafter constructed or acquired, sufficient to pay the bonds and interest as they become due, and to create and maintain reasonable reserves therefor. The board of directors, in determining the cost of the undertaking, may include all costs and estimated costs of the issuance of the bonds, all engineering, inspection, fiscal and legal expenses, and interest which it is estimated will accr

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

In the exercise of the powers granted or permitted by law, the district shall have the additional power:

1. To issue its bonds to finance, in whole or in part, the costs of any undertaking.

2. To pledge to the punctual payment of the bonds and interest thereon the revenue of the district, or any part thereof, or all or any part of the revenue from the undertaking, including improvements or extensions thereafter constructed or acquired, sufficient to pay the bonds and interest as they become due, and to create and maintain reasonable reserves therefor. The board of directors, in determining the cost of the undertaking, may include all costs and estimated costs of the issuance of the bonds, all engineering, inspection, fiscal and legal expenses, and interest which it is estimated will accrue on money borrowed or which will be borrowed during the construction period and for such period thereafter as the board may determine, initial reserve funds for debt service and working capital, the costs of the services of agents or persons, corporations, firms, partnerships or associations, employed, or consultants, advisors, engineers or fiscal, financial or other experts in the planning, preparation, supervision and financing of such undertaking, and the costs incurred by the district in obtaining the order authorizing the issuance of the bonds pursuant to section 48-2465.

3. To fix, levy, and collect fees, rentals or other charges for the use of or in connection with the services and facilities of the district or the undertaking, and, if any agreements with holders of bonds are made as may be provided by law, to fix, levy and collect such fees, rentals and other charges in accordance with such agreements and subject thereto.