Arizona Statutes

§ 48-2464 — Powers of district

Arizona·Title 48 Arizona Revised Statutes·Ch. 17 AGRICULTURAL IMPROVEMENT DISTRICTS·Art. 7 Revenue Bonds

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

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