Arizona Laws 45-1443. Limitation on expenditure of funds
A. The director shall not disburse any funds for a flood control project defined by section 45-1441, paragraph 3, subdivision (a) until the legislature has appropriated funds to contribute toward the local cost of land, easements and rights-of-way for that project. The director shall not undertake the construction of flood control projects.
Terms Used In Arizona Laws 45-1443
- Director: means the director of water resources, who is also the director of the department. See Arizona Laws 45-101
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Flood control project: means any project for flood control purposes on which construction commences after April 19, 1973 and which either:
(a) Is authorized under federal law and requires local participation. See Arizona Laws 45-1441
- Public agency: means any state agency or political subdivision of the state. See Arizona Laws 45-1441
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
B. Prior to the federal government budgeting funds for the construction of a flood control project, the director may only disburse the state’s portion of the costs incurred by a public agency in acquiring fee title to real property necessary for such project. At such times as the federal government does budget funds for the construction of any flood control project in this state, the director may then disburse the state’s portion of the costs for easements and rights-of-way.
C. If a public agency receives the state’s portion of costs for acquiring fee title to lands, easements and rights-of-way, which are subsequently found to be unnecessary for a flood control project, the public agency shall, within a reasonable time, sell such lands, easements and rights-of-way at fair market value and return to the state one-half the net amount of money realized from such sale after deducting direct expenses of the sale, or may retain such lands, easements or rights-of-way, and return to the state one-half of the fair market value of such lands, easements and rights-of-way.