A.R.S. § 48-3762: Limitation on amount, rates, fees and charges

A. The district shall not issue any bonds under this article that will cause the aggregate principal amount of bonds issued and outstanding under this article to exceed five hundred million dollars.

B. Bonds issued before September 21, 1991 are excluded for the purposes of determining the aggregate principal amount.

C. Notwithstanding any other law, the district may establish and collect a fee for water for bonding purposes in lieu of or in addition to any rate or charge made pursuant to law or by contract.