Arizona Revised Statutes § 48-3214 Powers Of District

48-3214. Powers of district

In exercising the powers granted or permitted by law, the district may:

1. Issue its bonds to finance all or part of the costs of any undertaking.

2. Pledge to the punctual payment of the bonds and interest thereon the revenue of the district, or any part thereof, or all or any part of the revenue from the undertaking, including improvements or extensions thereafter constructed or acquired, sufficient to pay the bonds and interest as they become due, and to create and maintain reasonable reserves therefor. The board of directors, in determining the cost of the undertaking, may include all costs and estimated costs of the issuance of the bonds, all engineering, inspection, fiscal and legal expenses, and interest which it is estimated will accrue on money borrowed or which will be borrowed during the construction period and for such period thereafter as the board may determine, initial reserve funds for debt service and working capital, the costs of the services of agents or persons, corporations, firms, partnerships or associations, employed, or consultants, advisors, engineers or fiscal, financial or other experts in the planning, preparation, supervision and financing of such undertaking.

3. Fix, levy and collect fees, rentals or other charges for the use of or in connection with the services and facilities of the district or the undertaking, and, if any agreements with holders of bonds are made as may be provided by law, to fix, levy and collect such fees, rentals and other charges in accordance with such agreements and subject thereto.

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Last modified: October 13, 2016