Arizona Arizona Revised Statutes
§ 9-513 — Lease of privately owned utility
ARS § 9-513Title 9. Cities and Towns · Ch. 5. PUBLIC UTILITIES · Art. 2. Municipal Ownership
Statute text
View on source9-513. Lease of privately owned utility A. When it is impracticable to issue bonds as provided by section 9-512 for an improvement or enterprise deemed necessary for the public welfare, the municipal corporation may lease at a stipulated rental a public improvement or utility. B. The rental contract shall reserve to the municipal corporation the option to purchase the improvement or utility in the future.