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Arizona Revised Statutes - Title 9 Cities and Towns - Section 9-513 Lease of privately owned utility

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9-513. 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.

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Last modified: February 19, 2012