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.

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

Arizona § 48-609 (Deficiency in collections) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Nearby Sections

15
View on official source ↗