Arizona Laws 48-4464. District member’s replenishment account; statements; credits
A. The district shall establish and maintain a replenishment account for each district member. After the district computes each member’s replenishment obligation, the district shall adjust the existing balance in the member’s replenishment account as follows:
Terms Used In Arizona Laws 48-4464
- District: means a groundwater replenishment district established under this chapter. See Arizona Laws 48-4401
- member: means a municipality that contains a service area and petitions for the formation of the district or petitions for the expansion of the district pursuant to this title. See Arizona Laws 48-4401
- 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.
1. Debit the member’s replenishment account in the amount of the member’s replenishment obligation as computed under section 48-4463.
2. Credit the member’s replenishment account in an amount equal to any replenishment services pursuant to sections 48-4470, 48-4472 and 48-4501 that the member purchased during the reporting year.
B. On or before May 15 of each year, the district shall issue to each member:
1. An account statement of the balance in the member’s account as of December 31 of the reporting year.
2. A credit certificate to each member that has a net credit balance in its account. The certificate shall state the net credit in the member’s account.