A. The chief financial officer may file a notice with the director of the department of administration requesting this state to undertake lease purchase financing in connection with an eligible project pursuant to Section 41-791.04. The notice shall include a detailed description of the part of the eligible project that the state is requested to lease purchase.

Terms Used In Arizona Laws 9-624

  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC

B. The department of administration shall promptly respond to the proposal in the manner prescribed by Section 41-791.04.

C. If a notice is filed and the lease purchase financing is completed pursuant to this section, no distributions shall be made by the state treasurer pursuant to section 9-602 to the eligible city for the eligible project.

 

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