Arizona Laws 49-1216. Financial assistance; loan repayment agreements; political subdivisions
A. Notwithstanding sections 9-571, 11-671, 48-1019 and 48-2011.01, during fiscal years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027, the political subdivisions described in subsection B of this section may enter into a financial assistance loan repayment agreement with the authority without submitting the question of entering and performing the financial assistance loan repayment agreement to the qualified electors of the political subdivision if the agreement is financed with funding made available to the authority under the infrastructure investment and jobs act, division J, title VI (P.L. 117-58) and the financial assistance agreement is not payable from secondary property tax revenue.
Terms Used In Arizona Laws 49-1216
- Authority: means the water infrastructure finance authority of Arizona. See Arizona Laws 49-1201
- Financial assistance loan repayment agreement: means an agreement to repay a loan provided to design, construct, acquire, rehabilitate or improve water or wastewater infrastructure, related property and appurtenances or a loan provided to finance a water supply development project. See Arizona Laws 49-1201
- Political subdivision: means a county, city, town or special taxing district authorized by law to construct wastewater treatment facilities, drinking water facilities or nonpoint source projects. See Arizona Laws 49-1201
- Population: means the population according to the most recent United States decennial census. See Arizona Laws 1-215
- Property: includes both real and personal property. See Arizona Laws 1-215
B. The following political subdivisions may enter into a financial assistance loan repayment agreement described in subsection A of this section:
1. A city or town, without regard to the city or town’s population.
2. A county, without regard to the county’s population.
3. A sanitary district that contains a population of fewer than fifty thousand persons.
4. A domestic water or wastewater improvement district, without regard to the population of that district.