{"data":{"id":"us-az/a.r.s.-48-7024","jurisdiction":"us-az","citation":"A.R.S. § 48-7024","heading":"Revenue bonds","body":"A. At any time after the hearing on formation of the district, the board may hold a hearing on the question of authorizing the board to issue revenue bonds of the district to provide monies for any infrastructure purposes consistent with the general plan.\n\nB. If revenue bonds are approved by resolution, the board may issue and sell revenue bonds of the district, the term of which may not exceed thirty years.\n\nC. The board may pledge to the payment of its revenue bonds any revenues of the district or revenues to be collected by a municipality or a county in trust for the district and returned to the district.\n\nD. The district shall prescribe fees and charges, and shall revise them when necessary, to generate revenue sufficient, together with any monies from the sources described in section 48-7007, to pay when due the principal and interest of all revenue bonds for the payment of which revenue has been pledged. The establishment or revision of any rates, fees and charges shall be identified and noticed concurrently with the annual budget process of the district pursuant to section 48-7027.\n\nE. If, in the resolution of the board, the revenues to be pledged are limited to certain types of revenues, only those types of revenues may be pledged and only those revenues must be maintained.\n\nF. A holder of revenue bonds issued under this chapter may not compel any exercise of the taxing power of the district, a municipality, the county or this state to pay the bonds or the interest on the bonds. Revenue bonds issued under this chapter are not a debt of the district, a municipality, the county or this state, nor is the payment of revenue bonds enforceable out of any monies other than the revenue pledged to the payment of the bonds.\n\nG. The district may issue and sell refunding bonds to refund any revenue bonds of the district, the term of which may not exceed thirty years.","path":["Title 48 Special Taxing Districts"],"source_url":"https://www.azleg.gov/ars/48/07024.htm","current_through":"57th Legislature, 2nd Regular Session (effective 2027-01-01); mirror section count 24991","vintage":"2026-09-15","retrieved_at":"2026-09-26T04:29:04Z","sha256":"d290257031a94db0b0f116d84ab56d6c946e5035d0adb79df5eb7b164996fe5c","source_id":"us-az","stale":false,"prev":"us-az/a.r.s.-48-7023","next":"us-az/a.r.s.-48-7025"},"notice":"GroundRules: Original legal text. Not legal advice."}