Arizona Statutes
§ 48-609 — Deficiency in collections
Arizona·Title 48 Arizona Revised Statutes·Ch. 4 MUNICIPAL IMPROVEMENT DISTRICTS·Art. 2 General Public Improvements and Improvement Bonds
If there is a deficiency in the funds collected from the special assessments by reason of the inadequacy of the method of collection adopted by the municipality under section 48-608, the municipality shall make good the deficiency, reimbursing itself from the funds collected from the installments when they are received. If such method has not been adopted and the deficiency has not been funded by monies from a reserve, the municipality may, but is not so obligated, make good the deficiency by a temporary loan first from any reserve and any additional, similar fund and then from the general fund.
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Nearby Sections
15
§ 48-1002
Complete procedure§ 48-1004
Limitation§ 48-101
State certification board§ 48-1011
Definitions§ 48-1013
Compensation; expenses§ 48-1017
Reimbursement for county services