Arizona § 48-3194 Limitation on bonded indebtedness

Arizona Statutes

§ 48-3194 — Limitation on bonded indebtedness

Arizona § 48-3194

Title 48Arizona Revised Statutes

Ch. 19IRRIGATION AND WATER CONSERVATION DISTRICTS

Art. 10District Bonds

This text of Arizona § 48-3194 (Limitation on bonded indebtedness) 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. § 48-3194 (2026).

Text

No bonds shall be issued by a district which will cause the total aggregate outstanding bonded indebtedness of the district and other district obligations for the payment of money to exceed sixty per cent of the estimated market value of the lands within the district, after its system or irrigation works has been completed, and for the irrigation works owned or to be acquired by the district with the proceeds of the bonds.

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No bonds shall be issued by a district which will cause the total aggregate outstanding bonded indebtedness of the district and other district obligations for the payment of money to exceed sixty per cent of the estimated market value of the lands within the district, after its system or irrigation works has been completed, and for the irrigation works owned or to be acquired by the district with the proceeds of the bonds.