Arizona § 9-532 Utility receipts and bond proceeds; handling and disposition

Arizona Statutes

§ 9-532 — Utility receipts and bond proceeds; handling and disposition

Arizona § 9-532

Title 9Arizona Revised Statutes

Ch. 5PUBLIC UTILITIES

Art. 3Municipal Bonds for Financing Utilities

This text of Arizona § 9-532 (Utility receipts and bond proceeds; handling and disposition) 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. § 9-532 (2026).

Text

A.All proceeds received from sale of the bonds, all fees, rents, tolls or other charges received by the municipality from a utility undertaking financed by the bonds, and all monies received from any source in connection therewith shall be paid to the finance officer of the municipality designated by the governing body thereof for such purposes. The finance officer shall not commingle any money received under the terms of this article with any other monies, but the monies received shall be deposited in a separate bank account in the name of the municipality.

B.The governing body may by resolution provide that all deposits of such proceeds, fees, rents, tolls or other charges, and the monies received under the terms of this article shall be secured by obligations of the United States or

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A. All proceeds received from sale of the bonds, all fees, rents, tolls or other charges received by the municipality from a utility undertaking financed by the bonds, and all monies received from any source in connection therewith shall be paid to the finance officer of the municipality designated by the governing body thereof for such purposes. The finance officer shall not commingle any money received under the terms of this article with any other monies, but the monies received shall be deposited in a separate bank account in the name of the municipality.

B. The governing body may by resolution provide that all deposits of such proceeds, fees, rents, tolls or other charges, and the monies received under the terms of this article shall be secured by obligations of the United States or of this state of a market value equal at all times to the amount of the deposits provided by this article, and all banks and trust companies are authorized to give such security for the deposits.