reglab/housing_qa huggingface dataset:
AZ Rev Stat § 35-458 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-458 - Levy of tax for payment of bonds; security

35-458.  Levy of tax for payment of bonds;  security A. After the bonds are issued,  the governing body or board shall enter on its minutes a record of the bonds sold and their numbers and dates,  and shall annually levy and cause to be collected a tax,  at the same time and in the same manner as other taxes are levied and collected on all taxable property in the political subdivision,  sufficient to pay the annual interest on the bonds when due,  and shall likewise annually levy a tax sufficient to redeem the bonds when they mature. The annual levy shall not exceed the net amount necessary to meet annual payments of principal and interest,  projected payments of principal and interest on new debt planned for the ensuing year,  a reasonable delinquency factor,  including an amount necessary to correct prior year errors or shortages in the levy,  if applicable,  and any expenses and fees required in conjunction with the authorization pursuant to section 35-512. The levy shall be the net of all cash in excess of ten percent of the annual payments of principal and interest in the current fiscal year from the previous year remaining in the fund or funds prescribed by subsection B of this section. B. Monies derived from the levy of the tax when collected shall constitute a fund for payment of interest and the bonds. The fund shall be kept separately and shall be known as the " interest fund"  and " redemption fund" ,  or the two funds may be combined into a single " interest and redemption fund" . C. All bonds,  heretofore and hereafter issued,  are secured by a lien on all revenues received pursuant to the tax levy. The lien arises automatically without the need for any action or authorization by the political subdivision or the political subdivision's governing body or board. The lien is valid and binding from the time of the issuance of the bonds. The revenues received pursuant to the levy of the tax are immediately subject to the lien. The lien attaches immediately to the revenues and is effective,  binding and enforceable against the political subdivision,  the political subdivision's successors,  transferees and creditors and all other parties asserting rights in the revenues,  irrespective of whether the parties have notice of the lien,  without the need for any physical delivery,  recordation,  filing or further act.
AZ Rev Stat § 35-459 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-459 - Redemption of bonds and coupons

35-459.  Redemption of bonds and coupons A. When any bonds mature,  the county treasurer,  when the bonds have been issued by the county,  the city or town treasurer,  when the bonds have been issued by a city or town,  or the fiscal officer of other political subdivisions shall give notice for four weeks in a newspaper published in the county of intention to redeem and the amount of such bonds. The redemption shall be made and all such bonds shall cease to draw interest at the expiration of four weeks after the date of the notice. If the bonds so called for redemption are not presented within three months from the date of the notice,  the treasurer shall apply the money to the redemption of the bonds next in the order of the number of their issue. B. The interest coupons when due and payable shall be delivered to the treasurer or proper fiscal officer,  who shall pay them and write the word " canceled"  across the face of the coupons. Such canceled coupons shall be the treasurer's receipt for their payment. C. When any bonds are redeemed,  the treasurer or proper fiscal officer shall in like manner mark them " canceled"  on the face of the bonds over his signature,  and deliver them to the clerk or secretary of the governing body,  taking a receipt for the cancelled bonds. The clerk or secretary shall file the bonds in his office and report the redemptions to the governing body.
AZ Rev Stat § 35-460 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-460 - Erection of buildings

35-460.  Erection of buildings If bonds for the purpose of erecting and furnishing a public building are authorized at the election,  the board of supervisors for a county and the governing body of a city,  town or other municipal corporation shall authorize the design and construction of the building in accordance with title 34.
AZ Rev Stat § 35-461 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-461 - Payment of expenses of bond issues

35-461.  Payment of expenses of bond issues The expenses of the proceedings provided for in this article shall be borne by the political subdivision instituting the proceedings. If the bonds authorized by this article are sold,  the expenses thereof shall be deducted from the proceeds of the sale.
AZ Rev Stat § 35-462 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-462 - Bonds; change of purpose; election; informational pamphlet; ballot

35-462.  Bonds;  change of purpose;  election;  informational pamphlet;  ballot  (Rpld. 1/1/25) A. The governing body or board of a political subdivision may call an election to change the purposes for which the monies derived from the sale of bonds authorized at a prior bond election may be spent provided the bonds have not been issued. B. The governing body or board shall order the election to be held and the election notice and procedures to be conducted in the manner prescribed by this article. An election called to change the purposes for which the monies may be spent may be held only on the first Tuesday following the first Monday in November. C. At least thirty-five days before the election,  the governing body or board shall mail a copy of an informational pamphlet to each household within the political subdivision that contains a registered voter. The pamphlet shall contain at least the following information: 1. The date of the election. 2. The polling location for the addressee. 3. The hours during the day when the polls will be open. 4. The purposes for which the bonds were issued,  as described in the informational pamphlet mailed before the prior bond election pursuant to section 35-454. 5. The proposed new purposes for which the monies derived from the sale of bonds will be spent. 6. The proposed new projects and expenditures for which the monies derived from the sale of bonds will be spent. 7. Arguments for and against changing the purposes for which the monies derived from the sale of bonds may be spent. D. The ballot shall contain the words " change capital improvements,  yes"  and " change capital improvements,  no" ,  and the voter shall signify the voter's desired choice.
AZ Rev Stat § 35-465 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465 - Definitions

35-465.  Definitions In this article,  unless the context otherwise requires: 1. " City"  means any city incorporated under the laws of this state. " City"  also includes any town incorporated under the laws of this state. 2. " County"  means any county now or hereafter in existence in the state. 3. " Fiscal year"  means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year. 4. " Governing body"  means the body constituted by law to be the legislative department of the taxing district. 5. " Municipal corporation"  means any sanitary district,  electrical district,  irrigation district,  hospital district or any other similar municipal corporation which is required by law to adopt a budget. 6. " School district"  means any school district now or hereafter in existence in the state. 7. " State"  means the state of Arizona. 8. " Taxes"  means ad valorem taxes levied or to be levied by the taxing district in the fiscal year,  sales taxes and transaction privilege taxes levied by the taxing district and all amounts returned to the taxing district by the state. The term " taxes"  does not include ad valorem taxes levied to pay principal of or interest or redemption charges on any bonded indebtedness of the taxing district or sales or transaction privilege taxes which by law or contract must be used by such district for specified purposes,  such as motor vehicle fuel taxes. 9. " Taxing district"  means any city,  county,  school district or municipal corporation having the power to levy ad valorem taxes. 10. " Treasurer"  means the treasurer of the taxing district or the ex officio tax collector of the taxing district.
AZ Rev Stat § 35-465.01 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.01 - Tax anticipation notes

35-465.01.  Tax anticipation notes After a taxing district has adopted a budget for the current fiscal year as provided by law and the governing body thereof ascertains that the taxes to be received by such district will not be received in time to pay the district's projected expenses,  as set forth in such budget,  the governing body may issue and sell tax anticipation notes,  the principal and interest on which are to be paid solely from the taxes estimated by such taxing district to be received for the current fiscal year and from the proceeds of the sale of such notes.
AZ Rev Stat § 35-465.02 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.02 - Form of notes

35-465.02.  Form of notes The notes may be issued in one or more series,  bear such dates,  be in such denomination or denominations,  mature on any date or dates occurring on or prior to the next July 31 following the end of the fiscal year in which the notes are issued,  mature in such amount or amounts,  bear interest at such rate or rates,  be in such form and be executed in such medium of payment,  be payable at such place or places,  and be subject to such terms of redemption with or without premium as the resolution of the governing body authorizing the issuance of the notes may provide. The notes may be sold above,  at or below par at either public or private sale. The term " public sale"  shall include sale by either auction or sealed bid upon such terms,  conditions and notice as the governing body may prescribe. The notes shall be fully negotiable for all purposes as set forth in title 47,  chapter 3.
AZ Rev Stat § 35-465.03 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.03 - Limitations on issuance of notes

35-465.03.  Limitations on issuance of notes The amount of such notes issued by such taxing district in any fiscal year shall not exceed ninety per cent of the aggregate of all uncollected taxes estimated to be received by the district for the fiscal year as shown by the current budget.
AZ Rev Stat § 35-465.04 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.04 - Application of taxes; payment of notes

35-465.04.  Application of taxes;  payment of notes Upon the issuance of any tax anticipation notes all taxes which are pledged to pay the notes and which are thereafter received by the taxing district shall be collected and held in the manner set forth in the resolution authorizing the notes or the notes themselves. The resolution authorizing the issuance of the notes shall set forth a pledge of tax revenues describing the times and amount of taxes which must be set aside to repay the notes. Monies pledged to repay the notes shall be used to pay principal and interest on the tax anticipation notes in the manner provided in such resolution. These notes shall be paid on or before July 31 following the end of the fiscal year in which the notes are issued. Any other law to the contrary notwithstanding,  this article shall be full authority for the payment when due,  or for redemption in advance of maturity,  of all principal and interest and redemption premiums on the notes.
AZ Rev Stat § 35-465.05 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.05 - Investment of tax anticipation note proceeds; period of investment covenants

35-465.05.  Investment of tax anticipation note proceeds;  period of investment covenants A. Tax anticipation note proceeds and taxes pledged to repay the tax anticipation notes may be invested by the treasurer in any securities or deposits eligible for investment of public monies pursuant to chapter 2,  article 2.1 of this title or,  if taxes,  in the same manner such taxes could have been invested if the notes had not been issued. B. A resolution pertaining to the issuance of tax anticipation notes may contain covenants prescribing the period that proceeds may be invested and the maximum yield on such investments during any period mentioned in the covenant. C. Investment income received from tax anticipation note proceeds and taxes set aside to pay the tax anticipation notes shall be applied against the tax anticipation note interest expense incurred on the same tax anticipation notes as a reduction of the expenditure,  except that the reduction of expenditure shall not exceed the amount of actual tax anticipation note interest expense. In making such calculation,  taxing districts may combine the investment income from all series of tax anticipation notes issued within a fiscal year and also combine all tax anticipation note interest expense to be incurred from such issuance.
AZ Rev Stat § 35-465.06 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.06 - Use of proceeds

35-465.06.  Use of proceeds The proceeds from the sale of the notes shall be paid into the treasury of the taxing district. The proceeds shall be used by the taxing district to pay the expenses of such district as set forth in the annual budget and to pay the expenses of the proceedings and the issuer's costs incurred for the administration of note repayment.
AZ Rev Stat § 35-465.07 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-465.07 - Rights of holders

35-465.07.  Rights of holders The holder of any anticipation note may,  in the holder's own name and on the holder's own behalf,  or on behalf of all of the holders of the notes,  take whatever action may be necessary to compel the performance of any duty required by any section of this article.
AZ Rev Stat § 35-466 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466 - Definitions

35-466.  Definitions In this article,  unless the context otherwise requires: 1. " Governing body"  means the body constituted by law to be the governing board of the issuer. 2. " Grant agreement"  means any written agreement entered into with the issuer and the United States of America or any of its departments or agencies by which the issuer will receive a grant or subvention for which the funds to be advanced have been appropriated to the department or agency making the grant and by which the issuer incurs no monetary liability to repay the grant or subvention except for the obligation to construct a project or projects. 3. " Grant anticipation notes"  means notes authorized by this article and also notes to refund grant anticipation notes. 4. " Grant revenues"  means any revenues the issuer will receive under a grant agreement,  proceeds of grant anticipation notes and income and gain from investment of such revenues and proceeds. 5. " Issuer"  means any city,  charter city,  town,  county,  sanitary district,  electrical district,  irrigation district,  hospital district,  improvement district or any other similar municipal corporation. 6. " State"  means this state or any of its departments,  agencies or authorities.
AZ Rev Stat § 35-466.01 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.01 - Grant anticipation notes

35-466.01.  Grant anticipation notes After any issuer has entered into one or more grant agreements,  its governing body may issue and sell grant anticipation notes,  the principal and interest on which are to be paid solely from the grant revenues to be received under the terms of such grant agreement or agreements. The governing body may also issue grant anticipation notes to refund grant anticipation notes previously issued.
AZ Rev Stat § 35-466.02 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.02 - Form of notes

35-466.02.  Form of notes The notes may be issued in one or more series,  bear such dates,  be in such denomination or denominations,  mature on any date or dates not later than thirty days after the last date the grant revenues are to be received under the terms of the grant agreement or agreements,  or within the period the governing body of the issuer expects to receive the grant revenues if no date for final receipt is set forth in the grant agreement,  mature in such amount or amounts,  bear interest at such rate or rates not exceeding twelve per cent per annum,  be in such form and be executed in such medium of payment,  be payable at such place or places and be subject to such terms of redemption with or without premium as the resolution of the governing body of the issuer authorizing the issuance of the notes may provide. The notes may be sold at not less than par at either public or private sale. The term " public sale"  includes sale by either auction or sealed bid upon such terms,  conditions and notice as the governing body of the issuer may prescribe. The notes shall be fully negotiable for all purposes as set forth in title 47,  chapter 3.
AZ Rev Stat § 35-466.03 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.03 - Limitations on issuance of notes

35-466.03.  Limitations on issuance of notes The amount of such notes secured by grant revenues issued by the issuer shall not exceed the aggregate of all uncollected grant revenues to be received by the governing body under the terms of the applicable grant agreement or agreements.
AZ Rev Stat § 35-466.04 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.04 - Application of grant revenues; principal and interest redemption fund; payment of notes

35-466.04.  Application of grant revenues;  principal and interest redemption fund;  payment of notes Upon the issuance of any grant anticipation notes,  all grant revenues received by the issuer pursuant to the applicable grant agreement shall be collected and paid into a special fund to be known as the grant anticipation note principal and interest redemption fund until such time as monies in the fund are sufficient to pay all principal and interest on the notes when due,  or redeemed prior to maturity. All monies in the special fund shall be used to pay principal and interest on the grant anticipation notes and shall be used for no other purpose so long as the notes are outstanding. Any law to the contrary notwithstanding,  this article shall be full authority for the payment when due,  or for redemption in advance of maturity,  if the notes so provide,  of all principal and interest and redemption premiums on the notes from the monies in the special fund.
AZ Rev Stat § 35-466.05 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.05 - Investment of note proceeds; period of investment covenants

35-466.05.  Investment of note proceeds;  period of investment covenants A. Note proceeds may be invested in any of the following securities: 1. Bonds or other evidences of indebtedness of the United States of America or any of its agencies or instrumentalities when such obligations are guaranteed as to principal and interest by the United States of America or by any agency or instrumentality of the United States. 2. Bonds or other evidences of indebtedness of this state or any of the counties,  incorporated cities or towns or duly organized school districts of this state. 3. Interest-bearing savings accounts or certificates of deposit of banks or savings and loan associations doing business in this state if such banks or savings and loan associations are insured by the federal deposit insurance corporation or the federal savings and loan insurance corporation. Amounts in excess of that covered by federal insurance shall be secured by the depository to the same extent and in the same manner as required by the general depository law of this state. 4. Deposits placed in accordance with the procedures prescribed in section 35-323.01. B. A resolution pertaining to the issuance of notes may contain covenants prescribing the period that proceeds may be invested and the maximum yield on such investments during any period mentioned in the covenant and any other covenants deemed necessary or desirable by the governing body.
AZ Rev Stat § 35-466.06 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.06 - Use of proceeds

35-466.06.  Use of proceeds The proceeds from the sale of the notes shall be paid into the treasury of the issuer and used by the issuer to defray the costs and expenses of the construction or acquisition of the project for which the grant or grants are being made,  the legal and financial costs and expenses of issuing and administering the notes and,  if desired by the governing body of the issuer,  interest to accrue on the notes during their life.
AZ Rev Stat § 35-466.07 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.07 - Rights of holders

35-466.07.  Rights of holders The holder of any grant anticipation note may,  in the holder's own name and on the holder's own behalf,  or on behalf of all of the holders of the notes,  take whatever action may be necessary to compel the performance of any duty required by any section of this article.
AZ Rev Stat § 35-466.08 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-466.08 - Prohibition against obligating state or political subdivisions; payment from grant revenues

35-466.08.  Prohibition against obligating state or political subdivisions;  payment from grant revenues The state or any political subdivision shall not in any event be liable for the payment of the principal of or interest on any grant anticipation notes. Grant anticipation notes shall not be obligations of the state or any political subdivision and shall not constitute a debt,  legal or moral,  of the state or any political subdivision. The payment of the principal and interest on such notes shall not be made from or be enforceable against any funds of the state or a political subdivision other than grant revenues which have been paid into a grant anticipation note principal and interest redemption fund established pursuant to section 35-466.04. A holder of a grant anticipation note may not compel the payment of grant revenues to an issuer.
AZ Rev Stat § 35-467 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-467 - Definitions

35-467.  Definitions In this article,  unless the context otherwise requires: 1. " City"  means a city or town incorporated under the laws of this state. 2. " Fiscal year"  means the period commencing on July 1 of any year and terminating on June 30 of the next succeeding year. 3. " Governing body"  means the body constituted by law to be the legislative department of the taxing district. 4. " Municipal corporation"  means a sanitary district,  electrical district,  irrigation district or hospital district or any other similar municipal corporation which is required by law to adopt a budget. 5. " Revenue"  means any monies derived other than from grants,  ad valorem taxes,  sales taxes or transaction privilege taxes or from this state. Revenue does not include monies received by a municipal corporation which are restricted in their use or application by law. 6. " Taxing district"  means a city,  county,  school district or municipal corporation having the power to levy ad valorem taxes.