Arizona Laws 41-5705. Lease-to-own amount; expiration
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A. In order to fulfill the requirements of section 41-5741, the board may enter into lease-to-own transactions for up to a maximum of $200,000,000 in any fiscal year.
Terms Used In Arizona Laws 41-5705
- Board: means the school facilities oversight board. See Arizona Laws 41-5701
- 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.
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
B. The board shall not enter into lease-to-own transactions, including any refinancings or refundings, pursuant to this section from and after May 15, 2006.