Arizona Revised Statutes § 48-1811 Financial Powers Of District; Limitation; Definition

48-1811. Financial powers of district; limitation; definition

A. A district may finance any acquisition or expenditure authorized by this chapter with revenue bonds. A district may not finance with revenue bonds the acquisition by eminent domain of an existing electrical works or electrical facility of a municipality or public service corporation.

B. In this article unless the context otherwise requires, " revenues" means all income and profits received by a district from all sales of electrical power and energy to its customers, all investment income received on that income and profits and on revenue bond proceeds but does not include any income or monies derived from taxes or assessments authorized by this chapter or the proceeds or investment income of any bonds issued as prescribed by article 4 of this chapter.

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Last modified: October 13, 2016