After a bond indebtedness has been authorized by the qualified electors of a district, the board of directors, instead of issuing bonds in the manner provided in this article, may enter into an obligation or contract with the United States for the construction or purchase of the necessary works under the provisions of an act of Congress entitled "An act appropriating the receipts from the sale and disposal of public lands in certain states and territories for the construction of irrigation works for the reclamation of arid lands," approved June 17, 1902, and all amendments thereto, or any other law of the United States enacted to aid the reclamation of arid lands, and the rules and regulations thereunder, or the board of directors may issue bonds for a portion of the amount of the indebtedness authorized by the bond election and enter into an obligation or contract with the United States to the extent of the remainder of such amount, and may obligate and bind the district for the payments to be made thereunder in the manner and at the time and places provided by the act of Congress and by the rules and regulations thereunder.

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Terms Used In Arizona Laws 48-3195

  • Contract: A legal written agreement that becomes binding when signed.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • United States: includes the District of Columbia and the territories. See Arizona Laws 1-215