Arizona § 48-5570 Capital outlay fund

Arizona Statutes

§ 48-5570 — Capital outlay fund

Arizona § 48-5570

Title 48Arizona Revised Statutes

Ch. 31SPECIAL HEALTH CARE DISTRICT

Art. 3Financial Provisions

This text of Arizona § 48-5570 (Capital outlay fund) 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. § 48-5570 (2026).

Text

A.The board of directors may establish a fund for capital outlays. After a capital outlay fund is established, the board of directors may transfer to the fund any unencumbered surplus monies remaining on hand in the district at the end of a fiscal year.

B.If a capital outlay fund is established, it shall be used only for capital outlay purposes, but if the board of directors finds that the fund is no longer necessary or that monies remain in the fund that are no longer required for capital outlay purposes, the board of directors, by a four-fifths vote of all members, may discontinue the fund or transfer as much of it as is no longer required for capital outlay purposes to the payment of outstanding bonds, or if there are none, to any fund for payment of current expenses of the district.

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

A. The board of directors may establish a fund for capital outlays. After a capital outlay fund is established, the board of directors may transfer to the fund any unencumbered surplus monies remaining on hand in the district at the end of a fiscal year.

B. If a capital outlay fund is established, it shall be used only for capital outlay purposes, but if the board of directors finds that the fund is no longer necessary or that monies remain in the fund that are no longer required for capital outlay purposes, the board of directors, by a four-fifths vote of all members, may discontinue the fund or transfer as much of it as is no longer required for capital outlay purposes to the payment of outstanding bonds, or if there are none, to any fund for payment of current expenses of the district.