Arizona Revised Statutes - Title 35 Public Finances - Section 35-404 Amount of bonds; limitation
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35-404. Amount of bonds; limitation
The total amount of tax anticipation bonds, including both principal and interest,
shall not exceed fifty per cent of the ad valorem taxes, plus fifty per cent of the
state's portion of excise taxes as estimated by the department of revenue, for the years
recited in the bonds, uncollected and not in the state treasury at the time of issuance
of the bonds.
Sections: 35-401 35-402 35-403 35-404 35-405 35-406 35-407 35-408 35-421 35-422 35-423 35-424 35-425 35-426 35-427
Last modified: February 20, 2012
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