reglab/housing_qa huggingface dataset:
AZ Rev Stat § 35-907 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-907 - Allocations after 5:00 p.m. December 16

35-907.  Allocations after 5:00 p.m. December 16 A. Any portions of the state ceiling for which bonds have not been issued by 5:00 p.m. December 16,  other than confirmations extended pursuant to section 35-910,  shall be pooled and are subject to allocation by the director to projects eligible for a carry-forward allocation under the code. B. Obtaining and issuing a confirmation after 5:00 p.m. December 16 shall occur as provided in section 35-904,  subject to the following restrictions and changes: 1. A notice of intent shall be filed on or before December 15 with the authority by any issuer,  bond counsel or other interested person,  with respect to projects for which allocations may be carried forward pursuant to section 146 of the code. Such notice of intent shall be considered and confirmations shall be issued by the director to the issuers on December 17. Any portions of the state ceiling for which bonds have not been issued or for which a qualified mortgage credit certificate program has not been established by 5:00 p.m. December 26 shall be allocated by the director and confirmations shall be issued to such issuers before January 1. Issuers shall not file elections with the federal government under section 146 of the code until an allocation has been issued by the authority under this section for the bonds pertaining to a project. The failure to file a notice of intent results in the exclusion of the project from allocations to issuers of any portion of the current calendar year state ceiling. 2. A security deposit equal to one percent of the principal amount stated in the notice of intent shall be received by the authority within five days after notification by the director that the project is eligible for a carry-forward allocation. No security deposit is required if the direct beneficiary of the bonds proceeds is this state or a county,  city,  town or nonprofit entity,  the issuer is a student loan corporation,  the project includes urban development action grant or housing development grant financing,  is a project described in section 1317(3)(N) of the tax reform act of 1986 or is a qualified mortgage revenue bond project or is a qualified mortgage credit certificate program or the confirmation is issued by the director on or after December 26. The security deposit is forfeited to the authority if bonds are not issued within three years after the receipt of the deposit. For bonds that are issued from and after December 31,  2015,  any security deposit made in relation to the project for which the bonds are issued shall be refunded if the bonds are issued within three years after the receipt of the deposit that is required under this paragraph,  whether or not carry-forward allocation is used.
AZ Rev Stat § 35-908 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-908 - Principal amount of bonds issued less than confirmation; fee

35-908.  Principal amount of bonds issued less than confirmation;  fee A confirmation is effective as to bonds or mortgage credit certificates issued in lesser amounts than the principal amount set forth in the confirmation,  but for bonds issued after 5:00 p.m. June 1,  if the principal amount of bonds issued is less than the principal amount set forth in the confirmation,  a fee of one percent of the difference between the confirmation and the principal amount of the bonds shall be paid to the authority on filing the certificate of closing unless the direct beneficiary of the bond proceeds is this state or a county,  city,  town or nonprofit entity,  the issuer is a student loan corporation or the project includes urban development action grant or housing development grant financing,  is a project described in section 1317(3)(N) of the tax reform act of 1986,  is a qualified mortgage revenue bond or is a qualified mortgage credit certificate program. The failure to make such payment within ten days after the filing shall result in a retroactive cancellation of the allocation and the barring of the direct private obligor from any future allocations.
AZ Rev Stat § 35-909 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-909 - Confirmation fees

35-909.  Confirmation fees On the earlier of three business days after notice of issuance of the confirmation pursuant to section 35-904,  subsection H or the filing of a certificate of closing,  the authority shall be paid a nonrefundable confirmation fee of three hundred twenty dollars per million dollars for which a confirmation is issued. The failure to make timely payments of the confirmation fee shall result in the retroactive cancellation of the confirmation.
AZ Rev Stat § 35-910 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-910 - Extension of confirmations

35-910.  Extension of confirmations A. A confirmation may be extended one time for up to ninety days but not later than December 16 on providing the authority with a security deposit equal to one per cent of the principal amount set forth in the confirmation. The security deposit and request for extension shall be submitted to the authority before the expiration of the confirmation. Except as provided in subsection B,  all extensions granted pursuant to this section expire on the earlier of ninety days from the date of the extension or at 5:00 p.m. December 16. No security deposit is required pursuant to this section if the project is a qualified student loan project,  is a qualified mortgage revenue bond,  is a qualified mortgage credit certificate program or is for home improvement and rehabilitation. Requests shall not be extended. B. A confirmation or extension of confirmation which expires at 5:00 p.m. December 16 may be extended to 5:00 p.m. December 26 by filing with the authority on or before 5:00 p.m. on December 16 a certificate certifying that the bonds will be issued before 5:00 p.m. December 26,  and providing the authority with an additional security deposit equal to one per cent of the principal amount stated in the confirmation. All extensions granted pursuant to this subsection expire at 5:00 p.m. December 26. C. All security deposits received by the authority pursuant to this section are forfeited in favor of the authority if bonds are not issued before the expiration of the extension.
AZ Rev Stat § 35-911 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-911 - Powers of the authority; certifications

35-911.  Powers of the authority;  certifications The authority may do all things necessary or desirable to carry out the purpose of this chapter,  including issuing certifications regarding the aggregate amounts of allocations on bonds or mortgage credit certificates.
AZ Rev Stat § 35-912 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-912 - Limitation of liability

35-912.  Limitation of liability No pecuniary recourse may be had for any claim based on any obligation contained in this chapter against this state or the authority or any of the past,  present or future agencies,  officers,  directors,  employees or agents.
AZ Rev Stat § 35-1001 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1001 - Definitions

35-1001.  Definitions In this chapter,  unless the context otherwise requires: 1. " Governmental entity"  means this state,  any county,  city,  town,  municipality or other political subdivision of this state or any department,  agency,  board,  commission,  authority,  political subdivision,  public corporation or other public entity of any of the foregoing or controlled by any of the foregoing,  provided that each of the foregoing must comprise a geographical area with a population of at least three hundred thousand persons according to the most recent United States decennial census or special census. 2. " Obligations"  means bonds,  notes,  bond anticipation notes,  commercial paper or other evidences of indebtedness or lease,  installment purchase or other agreements or purchasing programs or certificates of participation. 3. " Swap agreement"  means an agreement,  between a governmental entity and a financial institution,  including an insurance company,  bank indemnity company or a company related to a financial institution,  pursuant to which payments are to be made by the governmental entity to the financial institution and are also to be made by the financial institution to the governmental entity,  and which is entered into in order to manage interest rate risk,  investment risk,  or commodity prices or is entered into in connection with carrying or securing of obligations of a governmental entity.
AZ Rev Stat § 35-1002 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1002 - Swap agreements; provisions; purposes; credit enhancement

35-1002.  Swap agreements;  provisions;  purposes;  credit enhancement A. A governmental entity may enter into,  modify,  amend and terminate one or more swap agreements that it determines to be necessary or desirable in connection with,  or incidental to,  the conduct of its activities,  including in connection with the issuance,  carrying or securing of obligations or the acquisition or carrying of investments. A governmental entity may enter into swap agreements that are to be effective at a future date or that constitute an option to enter into swap agreements. Swap agreements entered into by a governmental entity shall contain such provisions,  including payment,  term,  security,  collateralization,  termination penalty,  default and remedy provisions,  and shall be with such parties as the governmental entity determines to be necessary or desirable after due consideration to the creditworthiness of the parties. If the party to the swap agreement that is not the governmental entity is not rated by a nationally recognized rating agency in one of the top two rating categories of the rating agency at the time the swap agreement is entered into,  the party shall collateralize its obligations under the swap agreement with securities or cash acceptable to the governmental entity. Swap agreements may be payable from revenues of a utility undertaking,  excise taxes,  ad valorem taxes,  street and highway revenues,  monies that may be pledged to pay debt service on any bonds or other long-term obligations relating to the swap agreements,  or any other legally available monies,  as determined by the governmental entity. B. A governmental entity shall not enter into a swap agreement other than to implement its investment policy or for the purpose of managing an interest rate,  commodity price,  investment or similar risk that arises in connection with,  or incidental to,  the activities of the governmental entity. A governmental entity shall not carry on a business of acting as a dealer in swap agreements. C. In connection with entering into any swap agreement a governmental entity may enter into agreements that enhance the governmental entity's credit in the swap agreement or enhance the liquidity of the swap agreement,  including a line of credit,  letter of credit,  insurance policy or other security.
AZ Rev Stat § 35-1003 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1003 - Enforceability

35-1003.  Enforceability Absent bad faith or actual knowledge to the contrary,  a counterparty that enters into a swap agreement with a governmental entity may rely on a representation by that governmental entity that it is authorized or empowered to enter into the swap agreement. Notwithstanding the failure by that governmental entity to comply with the provisions of this chapter,  that counterparty may enforce the swap agreement against the governmental entity.
AZ Rev Stat § 35-1004 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1004 - Treatment, calculation and payment of amounts due under swap agreements; exemptions from budget

35-1004.  Treatment,  calculation and payment of amounts due under swap agreements;  exemptions from budget A. A governmental entity may deduct amounts which the governmental entity is to receive pursuant to swap agreements from the amounts due on its bonds or other long-term obligations for the purposes of determining: 1. Whether a governmental entity has satisfied statutory requirements concerning revenue coverage that are applicable to its bonds or other long-term obligations. 2. Whether a governmental entity has satisfied any maximum rate of interest that may be paid on the bonds or other long-term obligations. 3. The amount of taxes,  rates or charges to be levied or collected to pay amounts due upon its bonds or other long-term obligations. B. Until payment of all obligations under swap agreements and the expiration of the fiscal year in which swap agreements are paid in full,  no amounts collected for the purpose of paying amounts due under the swap agreements shall be subject to the provisions of title 42,  chapter 17,  article 2.
AZ Rev Stat § 35-1005 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1005 - Limitation on effect of chapter

35-1005.  Limitation on effect of chapter For purposes of this chapter,  " governmental entity"  does not include any agricultural improvement district formed or operating under title 48,  chapter 17,  and this chapter shall not restrict or modify the powers of an agricultural improvement district to enter into swap agreements and otherwise engage in transactions pertaining to such agreements that such district deems to be advisable for the interest of the district or to carry out or accomplish any of the purposes authorized or permitted by title 48,  chapter 17.
AZ Rev Stat § 35-1101 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1101 - Legislative consideration; funds; trust status; report; requirements

35-1101.  Legislative consideration;  funds;  trust status;  report;  requirements A. A statutory fund established prior to the effective date of this section may not be reclassified as a fund held in trust unless the fund under consideration meets the following factors: 1. Serves at least one of the following purposes: (a) Protects public health or safety. (b) Provides consumer protection by ensuring quality standards of an industry. (c) Provides research grants for projects designed to further the purposes of the program. 2. Is for a program that meets both of the following requirements: (a) Is funded primarily by industry fees assessed on a specified group of people and designated for a particular purpose. (b) Has independent industry council review of the program budget and fees. B. Any legislative standing committee considering legislation to reclassify a statutory fund to a fund held in trust shall affirm that the fund seeking reclassification meets the factors outlined in subsection A.
AZ Rev Stat § 35-1201 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1201 - Definitions

35-1201.  Definitions In this chapter,  unless the context otherwise requires:  1. " Administrator"  means the statewide collateral pool administrator. 2. " Default or insolvency"  includes the failure or refusal of any eligible depository to return any public deposit on demand or at maturity and the issuance of an order of supervisory authority restraining that depository from making payments of deposit liabilities or the appointment of a receiver for that depository.  3. " Defaulting depository"  means any eligible depository determined to be in default or insolvent.  4. " Eligible collateral"  means any collateral that is authorized pursuant to section 35-323. 5. " Eligible depository"  has the same meaning prescribed in section 35-321. 6. " Public deposit" : (a) Means public monies deposited in an eligible depository pursuant to this chapter. (b) Does not include monies that have been collateralized pursuant to regulations adopted by the United States department of housing and urban development. 7. " Public depositor" : (a) Means this state or any county,  city,  town or other political subdivision of this state,  including any commission,  institution,  committee,  board or officer and any state court. (b) Does not include a charter school,  a Native American tribe or tribal entity,  a federal agency or a housing authority,  provided that the housing authority deposits are secured in accordance with regulations or guidelines of the United States department of housing and urban development. 8. " Public monies"  means monies belonging to or received or held by officers of public depositors in their official capacity. 9. " Qualified escrow agent"  means any bank or trust company that is qualified to hold collateral pledged to secure public deposits pursuant to section 35-1208.  10. " Required collateral"  means the amount of eligible collateral required for an eligible depository to secure public deposits set by the policies and procedures of the administrator.
AZ Rev Stat § 35-1202 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1202 - Powers of the statewide collateral pool administrator

35-1202.  Powers of the statewide collateral pool administrator The statewide collateral pool administrator is established in the office of the state treasurer. On or before July 1,  2014,  the administrator shall have the necessary policies and procedures in place to implement this chapter. The administrator may: 1. Adopt and enforce the policies and procedures necessary to carry out this chapter. Any policies set forth by the administrator shall be developed,  including a comment period,  in consultation with financial institutions that serve as eligible depositories and public depositors.  2. Prescribe and enforce policies fixing the terms and conditions under which uninsured public deposits must be secured by collateral under this chapter.  3. Require any eligible depository to provide information concerning its public deposits as requested by the administrator.  4. Determine when a default or insolvency has occurred and take such action as the administrator may deem advisable for the protection,  collection,  compromise or settlement of any claim arising in case of default or insolvency.
AZ Rev Stat § 35-1203 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1203 - Subrogation of administrator to depositor's rights; distribution of assets; payment

35-1203.  Subrogation of administrator to depositor's rights;  distribution of assets;  payment On payment in full to any public depositor on any claim presented pursuant to this chapter,  the administrator shall be subrogated to all of the depositor's rights,  title and interest against the depository that is in default or insolvent and shall share in any distribution of the defaulting or insolvent depository's assets ratably with other depositors. The sums received from any distribution shall be paid to the other eligible depositories against which assessments were made,  in proportion to those assessments,  after any proper payment or expense of the administrator in enforcing the claim is paid.
AZ Rev Stat § 35-1204 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1204 - Mandatory deposit of public funds in eligible depositories; notice; exemption

35-1204.  Mandatory deposit of public funds in eligible depositories;  notice;  exemption A. Uninsured public deposits required to be secured by collateral pursuant to this chapter shall be deposited in an eligible depository. B. On written notice to the administrator,  a city that is governed by a charter and that has a population of more than one million persons is exempt from the requirements of this article.
AZ Rev Stat § 35-1205 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1205 - Authority to make public deposits

35-1205.  Authority to make public deposits A. All public depositors may make public deposits under the depositor's control in eligible depositories. The eligible depository shall secure any uninsured public deposits pursuant to this chapter or in accordance with the procedures prescribed in section 35-323.01. B. Local officials handling public deposits in this state may not require from an eligible depository any pledge of collateral for the deposits in excess of the requirements of this chapter.
AZ Rev Stat § 35-1206 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1206 - Public depositors; immunity

35-1206.  Public depositors;  immunity When deposits are made in accordance with this chapter,  an official of a public depositor is not personally liable for any loss resulting from the default or insolvency of any eligible depository in the absence of negligence,  malfeasance,  misfeasance or nonfeasance on the part of public depositor or the depositor's agents.
AZ Rev Stat § 35-1207 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1207 - Collateral for public deposits

35-1207.  Collateral for public deposits A. An eligible depository shall not accept or retain any public deposit that is required to be secured unless the eligible depository has deposited the required collateral with a qualified escrow agent or the administrator,  if required. Every eligible depository shall deposit with a qualified escrow agent eligible collateral equal to or in excess of the required collateral. Required collateral shall be one hundred two percent of public deposits less any applicable deposit insurance. Eligible collateral shall be valued at current market value. Substitutions and withdrawals of eligible collateral may be made without prior notification or consent by the public depositor. The administrator shall provide written consent before withdrawals of collateral. Substitutions of collateral may be made with notification to the administrator. B. Notwithstanding any other provisions of law,  an eligible depository shall not be required to give bond or pledge securities or instruments in the manner provided in this section for the purpose of securing deposits that are received or held in the trust department of the depository and that are secured pursuant to 12 United States Code section 92a.
AZ Rev Stat § 35-1208 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1208 - Qualified escrow agent; substitutions

35-1208.  Qualified escrow agent;  substitutions A. Eligible collateral shall be held as provided in this article or by policy of the administrator. Eligible collateral shall be held in the custody of any bank,  including a federal reserve bank,  or any depository trust company. B. Each eligible depository shall provide in a written deposit or pledge agreement between the eligible depository and the custodian of the collateral,  or in such other manner as prescribed by the administrator by policy,  that:  1. In the event of default or insolvency of the eligible depository for which the collateral is held,  the custodian shall surrender the collateral to the administrator. 2. The custodian shall reasonably make available to the administrator any books,  records and papers pertaining thereto for any examination or other reason necessary for the administration of this article. C. An eligible depository at any time may make substitutions of eligible collateral maintained or pledged for the purposes of this article and shall at all times be entitled to collect and retain all income derived from the collateral without restriction. The authorization to make substitutions of eligible collateral pursuant to this subsection may be suspended or revoked by the administrator if the eligible depository has become the subject of increased regulatory oversight as a result of the eligible depository's failure to maintain capital standards required by the depository's primary regulator.
AZ Rev Stat § 35-1209 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-1209 - Reports of eligible depositories

35-1209.  Reports of eligible depositories At the request of the administrator,  each eligible depository shall submit to the administrator a report,  as prescribed by the administrator,  showing the current market value of the depository's pledged collateral. The report shall be certified as to its accuracy by an authorized official of the eligible depository.