The amount of revenue anticipation notes issued by a taxing district in any fiscal year shall not exceed fifty per cent of the aggregate of all uncollected revenues estimated to be received by the district in the fiscal year as shown by the budget. Such revenues shall be limited to assessments, charges, fees or other revenues derived from or associated with facilities existing and operating at the time the revenue anticipation notes are sold.

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Terms Used In Arizona Laws 35-467.03

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fiscal year: means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year. See Arizona Laws 35-467
  • Revenue: means any monies derived other than from grants, ad valorem taxes, sales taxes or transaction privilege taxes or from this state. See Arizona Laws 35-467
  • Taxing district: means a city, county, school district or municipal corporation having the power to levy ad valorem taxes. See Arizona Laws 35-467
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