reglab/housing_qa huggingface dataset:
AZ Rev Stat § 35-705 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-705 - Board of directors

35-705.  Board of directors The authority shall have a board of directors in which all powers of the authority shall be vested and that shall consist of any number of directors,  not less than three nor more than nine,  all of whom shall be duly qualified electors of the municipality or county with respect to which the authority was formed,  except that a corporation that is formed by the Arizona finance authority shall be governed pursuant to section 41-5353. In the case of a corporation formed with the permission of the Arizona board of regents the directors must be qualified electors of this state. In the case of a corporation formed with the permission of the Arizona finance authority,  the Arizona finance authority board shall serve as the board of the industrial development authority. The directors shall serve without compensation,  except that the directors shall be reimbursed for their actual expenses incurred in the performance of their duties in the same manner as is provided for other state officers. A director shall not be an officer or employee of the authorizing municipality or county. All directors shall declare any conflict of interest as provided in title 38,  chapter 3,  article 8. The directors shall be elected by the governing body of the authorizing municipality or county,  and they shall be so elected that they shall hold office for overlapping terms. At the time of the election of the first board of directors the governing body of the municipality or the county shall divide the directors into three groups containing as nearly equal whole numbers as possible. The first term of the directors included in the first group shall be two years,  the first term of the directors included in the second group shall be four years,  the first term of the directors included in the third group shall be six years,  and thereafter the terms of all directors shall be six years. The governing body may remove a director at any time,  with or without cause.
AZ Rev Stat § 35-707 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-707 - Assumption of mortgage loans

35-707.  Assumption of mortgage loans Notwithstanding the provisions of any other law,  a corporation may prohibit the assumption of any single family mortgage loan purchased by it in accordance with the provisions of section 35-706 and require prepayment of the loan if the person proposing to assume the loan or the single family dwelling unit to which the loan relates fails to meet such eligibility criteria relating to mortgagors or single family dwelling units,  respectively,  as may be established by the corporation as the purchaser of such loan.
AZ Rev Stat § 35-708 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-708 - Financing certain owner-occupied single family dwellings; exception

35-708.  Financing certain owner-occupied single family dwellings;  exception A. For purposes of section 35-701,  paragraph 6,  in areas other than a slum or blighted area,  the authority undertaking the bond issue shall set aside for sixty days thirty percent of the mortgages for owner-occupied single family dwelling units for persons and families whose income is below the median family income of this state. B. This section does not apply to projects described in section 35-701,  paragraph 7,  subdivision (a),  item (iii) or programs established pursuant to section 35-706,  subsection A,  paragraph 14.
AZ Rev Stat § 35-722 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-722 - Approval by elected official if required by federal law

35-722.  Approval by elected official if required by federal law The governor or the attorney general,  or the state treasurer if designated by the governor,  may approve the issuance of any bonds issued by a corporation formed with the permission of the Arizona finance authority or the Arizona board of regents for purposes of complying with federal laws requiring approval by an applicable elected representative.
AZ Rev Stat § 35-723 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-723 - Prohibition on state debt

35-723.  Prohibition on state debt This chapter shall not be construed to authorize the incurrence of a debt by this state within the meaning of any constitutional provision or to permit the pledging of student fees,  charges or tuition to the payment of any bonds issued pursuant to this chapter.
AZ Rev Stat § 35-724 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-724 - Security for bonds

35-724.  Security for bonds The principal of and interest on any bonds issued by the corporation shall be secured by a pledge of the revenues,  proceeds and receipts or any portion thereof out of which the principal and interest are made payable,  and may be secured by a mortgage covering all or any part of the projects and properties from which the revenues,  proceeds or receipts so pledged may be derived,  including any enlargements of and additions to any such projects and properties thereafter made. The resolution under which the bonds are authorized to be issued and any such mortgage may contain any agreements and provisions respecting the maintenance of the projects and properties covered thereby,  the fixing and collection of rents for any portions thereof leased by the corporation to others,  the fixing and collection of proceeds from the sale of any projects and properties by the corporation to others,  the creation and maintenance of special funds from such revenues and the rights and remedies available in the event of default,  all as the board of directors shall deem advisable and not in conflict with the provisions of this article. Each pledge,  lease,  agreement and mortgage made by the corporation for the benefit or security of any of the bonds of the corporation shall continue effective until the principal of and interest on the bonds for the benefit of which the same were made have been fully paid. In the event of default in such payment or in any agreements of the corporation made as a part of the contract under which the bonds were issued,  whether contained in the proceedings authorizing the bonds or in any mortgage executed as security therefor,  may be enforced by mandamus,  the appointment of a receiver,  or by foreclosure of any such mortgage,  or any one or more of such remedies.
AZ Rev Stat § 35-725 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-725 - Bonds made legal investments

35-725.  Bonds made legal investments Bonds issued under the provisions of this chapter shall be legal investments for all banks,  trust companies and insurance companies organized and operating under the laws of this state.
AZ Rev Stat § 35-728 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-728 - Additional powers; allocating low-income housing tax credits; report; definition

35-728.  Additional powers;  allocating low-income housing tax credits;  report;  definition A. In addition to the other powers granted to the department,  the department may: 1. Adopt rules for the conduct of its business and its review of the activities described in this article. 2. Contract with,  retain or designate financial consultants,  attorneys and such other consultants and independent contractors as it determines necessary or appropriate to carry out the purposes of this article. 3. Undertake and carry out or authorize the completion of studies and analyses of housing conditions and needs within this state relevant to the purposes of this section to the extent not otherwise undertaken by other departments or agencies of this state satisfactory for such purpose. B. The department is designated the housing credit agency for this state for purposes of section 42 of the United States internal revenue code and is responsible for allocating the federal low-income housing tax credits available to this state. After reviewing applications the department may assess the applicant a reasonable fee in connection with processing the applications and monitoring compliance with the program. Beginning on October 1,  2002,  the department shall remit the fees to the state treasurer for deposit in the Arizona department of housing program fund established by section 41-3957. C. For the activities authorized in this section,  the department shall notify a city,  town,  county or tribal government that a multifamily rental project is planned for its jurisdiction and,  before proceeding,  shall request and obtain written consent from the governing body of the city,  town,  county or tribal government or an official authorized by the governing body of the city,  town,  county or tribal government. The department shall not interfere with or attempt to override the local jurisdiction's planning,  zoning or land use regulations. This subsection shall not be interpreted to interfere in any way with the requirements of state or federal fair housing laws. D. The department shall provide to the governor,  the president of the senate,  the speaker of the house of representatives and the auditor general not later than September 30 of each year a report of the activities of the department during the preceding fiscal year. The report shall include information on the following matters: 1. An assessment of the number and geographic location of housing units or developments financed or otherwise assisted by the department or by the corporations reporting to the department. 2. An assessment of the assistance in obtaining housing provided by the department or by the corporations reporting to the department to persons of low or moderate income and to other persons. 3. An assessment of the approximate amount of money used in the housing industry as a result of the department's activities.  E. For the purposes of this section,  " department"  means the Arizona department of housing.
AZ Rev Stat § 35-729 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-729 - Exemption from procurement code

35-729.  Exemption from procurement code For purposes of this article and chapter 7 of this title,  the following are exempt from title 41,  chapter 23 or other restrictions on the procedure for entering into contracts: 1. The Arizona commerce authority. 2. The Arizona department of housing.
AZ Rev Stat § 35-822 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-822 - Security for bonds

35-822.  Security for bonds The principal and interest of any bonds issued by the corporation may be secured by a pledge of the revenues and receipts of the corporation out of which the principal and interest are to be made payable,  by a mortgage covering all or any part of the properties of the corporation or corporations from which the revenues or receipts so pledged may be derived or a mortgage covering any properties of a borrower or lessee,  including any enlargements and additions to any such properties,  or by such other security as may be prescribed in the proceedings of the board of directors authorizing the issuance of the bonds. The proceedings under which bonds are authorized to be issued and any mortgage may contain any agreements and provisions respecting the maintenance of the properties covered thereby,  the fixing and collection of rents for any portions thereof leased by the corporation to others,  the creation and maintenance of special funds from such revenues and the rights and remedies available in the event of default and such other provisions as are not inconsistent with the provisions of this chapter,  all as the board of directors shall deem advisable and not in conflict with the provisions of this article. Each pledge,  lease,  loan agreement or mortgage made to secure any of the bonds of the corporation shall continue to be effective until the principal and interest of the bonds so secured have been fully paid or adequate provisions for such payment have been made. A default in any agreement of the corporation made as a part of the contract under which the bonds were issued,  whether contained in the proceedings authorizing the bonds or in any mortgage executed as security therefor,  may be enforced by suit,  by the appointment of a receiver,  by the foreclosure of any mortgage,  or any one or more of the remedies specified in the proceedings authorizing the issuance of such bonds.
AZ Rev Stat § 35-823 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-823 - Bonds as legal investments

35-823.  Bonds as legal investments Bonds issued under the provisions of this chapter are legal investments for all banks,  trust companies and insurance companies organized and operating under the laws of this state.
AZ Rev Stat § 35-741 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-741 - Exemption from taxation

35-741.  Exemption from taxation The corporation and its income and all bonds issued by it and the income therefrom shall be exempt from all taxation in this state,  except that property of the corporation shall be subject to all applicable ad valorem taxes. If such property is leased,  such ad valorem taxes shall be charged to the lessee as fully as if the lessee were the owner of such leased property except that no ad valorem tax shall be imposed upon any property of the corporation which is leased to a person qualified for exemption from such taxes by article 9,  section 2,  Constitution of Arizona and no charge for such a tax shall be made to any such lessee.
AZ Rev Stat § 35-742 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-742 - Municipality or county not liable

35-742.  Municipality or county not liable The municipality or the county shall not in any event be liable for the payment of the principal of or interest on any bonds of the corporation,  formed thereby or for the performance of any pledge,  mortgage,  obligation or agreement of any kind whatsoever which may be undertaken by the corporation,  and none of the bonds of the corporation or any of its agreements or obligations shall be construed to constitute an indebtedness of the municipality or county within the meaning of any constitutional or statutory provision whatsoever.
AZ Rev Stat § 35-743 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-743 - Liability insurance

35-743.  Liability insurance Notwithstanding any other provision of law,  the municipality or county in which an industrial development authority corporation has been organized may expend public monies to procure liability insurance covering the corporation and its board directors,  members,  officers,  agents and employees,  or may include the corporation and its board directors,  members,  officers,  agents and employees in a self-insurance program in the same manner and to the same extent that the municipality or county is authorized by law to do so for its officers,  agents and employees.
AZ Rev Stat § 35-751 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-751 - Earnings of the corporation and exemption from restrictions

35-751.  Earnings of the corporation and exemption from restrictions A. The corporation shall be a nonprofit corporation,  and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual,  firm or corporation. B. A project shall be exempt from any requirement of competitive bidding or other restrictions imposed on the procedure for the financing of public improvements or the award of contracts for the construction of public improvements and shall also be exempt from any restrictions imposed on municipalities,  counties or political subdivisions relating to the leasing,  sale or other disposition of property or funds. C. At the end of each fiscal year,  the Arizona industrial development authority shall: 1. Transfer all unencumbered monies in excess of the authority's operating costs generated after August 6,  2016 from single family mortgage programs that were in existence before August 6,  2016 to the housing trust fund established by section 41-3955. 2. After the transfer is made pursuant to paragraph 1 of this subsection,  transfer all unencumbered monies in excess of the authority's operating costs to the economic development fund established by section 41-5302.
AZ Rev Stat § 35-752 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-752 - Dissolution of corporation and vesting of title in municipality or county

35-752.  Dissolution of corporation and vesting of title in municipality or county Whenever the board of directors of the corporation,  by resolution,  determines that the purposes for which the corporation was formed have been substantially complied with and that all bonds and mortgage credit certificates theretofore issued and all obligations theretofore incurred by the corporation have been fully paid or discharged,  the members of the board of directors of the corporation shall thereupon dissolve the corporation in accordance with the provisions of title 10 and all funds held by the corporation and title to its property shall vest in the municipality or county with respect to which it was organized.
AZ Rev Stat § 35-753 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-753 - Recordation of documents

35-753.  Recordation of documents The articles of incorporation of the corporation and the certificate of dissolution of the corporation shall be filed for record with the corporation commission.
AZ Rev Stat § 35-754 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-754 - Chapter cumulative; no notice required

35-754.  Chapter cumulative;  no notice required Neither this chapter nor anything herein contained shall be construed as a restriction or limitation upon any powers which the corporation otherwise might have under any laws of this state,  but shall be construed as cumulative of any such powers. Except as provided in title 44,  chapter 12,  article 4,  no proceedings,  notice or approval shall be required for the organization of the corporation or the issuance of any bonds or any instrument as security therefor,  except as is provided in this chapter,  any other law to the contrary notwithstanding,  provided that nothing in this chapter shall be construed to deprive the state and its governmental subdivisions of their respective police powers over any properties of the corporation,  or to impair any power thereover of any official or agency of the state and its governmental subdivisions which may be otherwise provided by law.
AZ Rev Stat § 35-761 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-761 - Cooperation with public bodies

35-761.  Cooperation with public bodies For the purposes of carrying out the intent and provisions of this chapter,  the authorizing governing body may enter into cooperative agreements with any other governing bodies or with a state or any department or agency thereof,  or with the United States or with any agency,  department,  or instrumentality thereof.
AZ Rev Stat § 35-762 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-762 - Reviewing entities; approval of developments; coordination; definitions

35-762.  Reviewing entities;  approval of developments;  coordination;  definitions A. Any reviewing entity exercising its statutory duties in connection with a project may agree with any other reviewing entity to share information,  coordinate review schedules or jointly conduct reviews. B. A reviewing entity,  in its discretion,  may cooperate in the review of a project financing by adopting in whole or in part substantially similar review work performed on the project financing by another reviewing entity that is also charged with review of the project financing if the review work completed by the other entity meets the standards of the reviewing entity. C. A reviewing entity that adopts in whole or in part review work performed on the project financing by another reviewing entity is deemed for all purposes to have complied with its review responsibilities as if the review work had been performed by the reviewing entity itself. D. For the purposes of this section: 1. " Project"  means a nursing home,  rest home,  skilled nursing facility,  senior residential facility providing on-site medical and support services or life care facility owned and operated by a nonprofit organization that is exempt from taxation under section 501(c)(3) of the United States internal revenue code that is seeking debt financing pursuant to this chapter or a permit pursuant to title 20,  chapter 8. 2. " Reviewing entity"  means an industrial development authority formed pursuant to this chapter,  a governing body approving the formation of an industrial development authority or the department of insurance and financial institutions.
AZ Rev Stat § 35-771 (2021)
2021 Arizona Revised Statutes|Title 35 - Public Finances|§ 35-771 - Definitions

35-771.  Definitions In this article,  unless the context otherwise requires: 1. " Educational institution"  means a university under the jurisdiction of the Arizona board of regents,  a community college in this state,  an accredited private postsecondary institution eligible under title IV of the higher education act of 1965 licensed by this state and any other accredited institution eligible under title IV of the higher education act of 1965 offering postsecondary education or courses,  whether located within or outside of the boundaries of this state,  that awards any eligible degree. 2. " Eligible degree"  means any postsecondary degree or program. 3. " Eligible lender"  means an entity affiliated or contracting with a corporation or a qualified educational institution that may make student loans to eligible students or to the parents of eligible students or a nonprofit entity that is exempt from taxation under section 501(c)(3) of the internal revenue code and that makes student loans. 4. " Eligible student"  means any student attending any qualified educational institution and any resident of this state attending any educational institution. 5. " Parent"  means a student's mother,  father,  adoptive parent,  grandparent or guardian or any person with the duty and authority to make important decisions in matters having a permanent effect on the life and development of a student and to be concerned about the student's general welfare. 6. " Qualified educational institution"  means an educational institution,  as defined in paragraph 1 of this section,  with a campus and facilities located in this state that offers one or more eligible degrees. 7. " State program representative"  means the state treasurer or the state treasurer's designee. 8. " Student loan"  means a loan to or for the benefit of an eligible student for the purpose of financing all or a part of the eligible student's cost of attending an educational institution in pursuit of an eligible degree or refinancing any such loan previously made.