Arizona § 49-1269 Short-term emergency loan agreements; conditions

Arizona Statutes

§ 49-1269 — Short-term emergency loan agreements; conditions

Arizona § 49-1269

Title 49Arizona Revised Statutes

Ch. 8WATER INFRASTRUCTURE FINANCE PROGRAM

Art. 2Clean Water Revolving Fund, Drinking Water Revolving Fund and Hardship Grant Fund Financial Provisions

This text of Arizona § 49-1269 (Short-term emergency loan agreements; conditions) 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. § 49-1269 (2026).

Text

A.The authority, through its board, may enter into short-term emergency loan agreements with political subdivisions or Indian tribes under the following conditions:

1.The term of the loan does not exceed one year.

2.The dollar amount of the loan does not exceed two hundred fifty thousand dollars for each borrower for each emergency event.

3.The purpose of the loan is to provide assistance for designing, redesigning, engineering, reengineering, constructing or reconstructing water or wastewater systems that have failed as the result of a disaster, a natural disaster or a catastrophic event.

4.The disaster, natural disaster or catastrophic event is memorialized in a declaration of emergency by the governor or the federal emergency management agency.

B.Subject to board approval, fo

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A. The authority, through its board, may enter into short-term emergency loan agreements with political subdivisions or Indian tribes under the following conditions:

1. The term of the loan does not exceed one year.

2. The dollar amount of the loan does not exceed two hundred fifty thousand dollars for each borrower for each emergency event.

3. The purpose of the loan is to provide assistance for designing, redesigning, engineering, reengineering, constructing or reconstructing water or wastewater systems that have failed as the result of a disaster, a natural disaster or a catastrophic event.

4. The disaster, natural disaster or catastrophic event is memorialized in a declaration of emergency by the governor or the federal emergency management agency.

B. Subject to board approval, for any loan made pursuant to this section, the authority shall execute appropriate and binding legal agreements with the borrower that require repayment of monies from eligible sources of repayment. Notwithstanding any other statute, a loan may be made and an obligation to repay may be incurred pursuant to this section without a vote of the electors of the political subdivision or Indian tribe.