Arizona Arizona Revised Statutes
§ 9-571 — Wastewater treatment and drinking water treatment facilities and nonpoint source projects; financial assistance loan repayment agreements; definitions
ARS § 9-571Title 9. Cities and Towns · Ch. 5. PUBLIC UTILITIES · Art. 6. Financial Assistance from the Water Infrastructure Finance Authority of Arizona
Statute text
View on source9-571. Wastewater treatment and drinking water treatment facilities and nonpoint source projects; financial assistance loan repayment agreements; definitions A. Notwithstanding any other law, a city or town may construct, acquire from a willing seller or improve a wastewater treatment facility, drinking water facility or nonpoint source project with monies borrowed from or financial assistance including forgivable principal provided by the water infrastructure finance authority of Arizona. B. To repay financial assistance from the water infrastructure finance authority of Arizona a city or town may enter into a financial assistance loan repayment agreement with the authority. A financial assistance loan repayment agreement is payable from any revenues otherwise authorized by law to be used to repay long-term obligations. If revenue from a property tax assessment is the designated source of repayment under the agreement, the property tax assessed and levied is a secondary property tax levy for purposes of article IX, Constitution of Arizona. C. For any city or town, the following apply: 1. For a city or town with a population of more than one hundred fifty thousand persons, the governing body of the city or town shall submit the question of entering and performing a financial assistance loan repayment agreement to the qualified electors voting at a regular or special election in the city or town, except that if revenue from a secondary property tax levy is the designated source of repayment or if the project is constructed with an improvement district, the question shall be submitted to the qualified electors at an election held on the first Tuesday following the first Monday in November. 2. For a city or town with a population of one hundred fifty thousand persons or less, the revenues of the city's or town's utility system or systems may be pledged to the payment of the repayment agreement without an election, if the pledge of revenues does not violate any covenant pertaining to the utility system or systems or the revenues pledged to secure outstanding bonds or other obligations of the city or town. 3. An election is not required if voter approval has previously been obtained for substantially the same project with another funding source. 4. If a majority of the qualified electors voting on the question:
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