reglab/statecodes huggingface dataset:
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-703 - Articles of incorporation of industrial development authority

35-703.
Articles of incorporation of industrial development authority
In addition to the requirements of title 10,  the articles of incorporation shall set forth:
1. The names and residences of the applicants,  together with a recital that each of them is a qualified elector of the municipality or the county or,  in the case of a corporation to be formed with the permission of the Arizona finance authority or the Arizona board of regents,  a qualified elector of this state.
2. The name of the corporation,  which shall be " the industrial development authority of the ____________ of _____________, "  (the blank spaces to be filled in with the name of the municipality or the county). In the case of a corporation formed with the permission of the Arizona finance authority the name shall be the " Arizona industrial development authority" . In the case of a corporation formed with the permission of the Arizona board of regents the name shall be the " Arizona research park authority" .
3. A recital that permission to organize the authority has been granted by resolution duly adopted by the governing body of the municipality or county and the date of the adoption of such resolution.
4. The location of the principal office of the authority,  which shall be in the municipality or county. In the case of a corporation formed with the permission of the Arizona board of regents the principal office of the corporation shall be the principal office of the Arizona board of regents. In the case of a corporation formed with the permission of the Arizona finance authority,  the Arizona finance authority is the principal office of the corporation.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-704 - Amendment to articles

35-704.
Amendment to articles
The articles of incorporation may at any time and from time to time be amended to make any changes therein and add any provisions thereto which might have been included in the certificate of incorporation in the first instance,  provided that the members of the board of directors of the authority first shall file with the authorizing governing body an application in writing seeking permission to amend the articles of incorporation,  specifying in such application the amendment proposed to be made. The governing body thereof shall consider such application and,  if by resolution it finds and determines that it is wise,  expedient,  necessary or advisable that the proposed amendment be made,  authorizes the same to be made,  and approves the form of the proposed amendment,  then the persons making such application shall proceed to amend the articles in accordance with the provisions of title 10.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-773 - State program; representative; plan approval; bond rating

35-773.
State program;  representative;  plan approval;  bond rating
A. All industrial development authorities are authorized to exercise powers and issue revenue bonds to finance student loans in accordance with this chapter so that the state's student loan program is available for eligible students at educational institutions as a student loan program of general application in this state and approved by this state.
B. The state program representative shall approve or disapprove a plan submitted under section 35-772,  with or without a hearing,  not later than thirty days after receipt of the plan and shall promptly notify the corporation that submitted the plan of the approval or disapproval. If the state program representative does not notify the corporation that submitted the plan of the approval or disapproval within forty-five days after receiving the plan,  the plan is deemed approved. Approval of a plan constitutes a finding by the state program representative that:
1. The origination or acquisition of student loans by the corporation or its agent or agents,  a qualified educational institution or an eligible lender to eligible students or their parents will assist the students in attending an educational institution and financing the student's education.
2. Adequate provision has been or will be made for the payment of the principal of or interest on any bonds issued by the corporation to finance the loan program and for the reasonable expenses of the administration of the loan program.
3. The proposed procedures for application of the bond proceeds,  the collection of payments,  interest charges and any other matters concerning the administration of the loan program are in conformance with the laws of this state.
C. If the bonds are rated in the " A"  category or better,  without regard to modifiers within the " A"  category,  by a nationally recognized bond rating agency,  that rating is conclusive proof that adequate provision for payment has been made pursuant to subsection B,  paragraph 2 of this section.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-801 - Definitions

35-801.
Definitions
In this chapter,  unless the context otherwise requires:
1. " Corporation"  means any pollution control corporation incorporated by a municipality or county pursuant to the provisions of this chapter. Any such corporation when formed shall be a political subdivision of the state and have only such governmental powers as are set forth in this chapter.
2. " County"  means any county in this state in which a corporation may be organized and in which it is contemplated the corporation will function.
3. " Governing body"  means the board or body in which the general powers of the municipality or the county are vested.
4. " Municipality"  means any incorporated city or town,  including charter cities,  in this state in which a corporation may be organized and in which it is contemplated the corporation will function.
5. " Pollution control facilities"  means real and personal properties including but not limited to machinery and equipment,  whether or not now in existence or under construction,  which are used in whole or in part to control,  prevent,  abate,  alter,  dispose or store,  solid waste,  thermal,  noise,  atmospheric or water pollutants,  contaminants or products therefrom,  whether such facilities serve one or more purposes or functions in addition to controlling,  preventing,  abating,  altering,  disposing or storing such pollutants,  contaminants or the products therefrom.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-802 - Proceedings to incorporate pollution control corporations

35-802.
Proceedings to incorporate pollution control corporations
A. Any three or more natural persons,  each of whom is a qualified elector of the municipality or the county,  may file with the clerk of the governing body thereof written application for permission to incorporate a pollution control corporation for such municipality or county. The governing body shall approve or reject such application within thirty days after the filing date. If the governing body determines that it is advisable for the corporation to be formed it shall adopt a resolution approving the application and authorizing the persons making application to proceed with incorporation as prescribed by this chapter. No corporation may be formed unless an application first has been approved by the governing body having jurisdiction as provided in this section.
B. The number of corporations to be formed in any municipality or county hereunder shall not exceed the number deemed advisable by the governing body thereof to accomplish the purposes of this title.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-803 - Articles of incorporation of pollution control corporations

35-803.
Articles of incorporation of pollution control corporations
In addition to the requirements of title 10,  the articles of incorporation shall set forth:
1. The names and residences of the applicants and a statement that each is an elector of the municipality or county.
2. The name of the corporation,  which shall include the words " pollution control corporation"  and the name of the authorizing county or municipality.
3. A statement that approval for incorporation has been granted by the governing body of the municipality or county and the date of approval.
4. The location of the principal office of the corporation,  which shall be in the municipality or county.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-804 - Amendment to articles

35-804.
Amendment to articles
The articles of incorporation may be amended,  provided that a majority of the members of the board of directors of the corporation first shall file with the governing body a written application seeking permission to amend the articles and specifying the amendment proposed to be made. The governing body shall approve or reject the application within thirty days following the filing date. If it approves the proposed amendment,  it shall adopt a resolution authorizing the directors to amend the articles in accordance with the provisions of title 10.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-805 - Board of directors

35-805.
Board of directors
The corporation shall have a board of directors in which all powers of the corporation shall be vested and which shall consist of not less than three nor more than nine directors,  all of whom shall be duly qualified electors of the municipality or county in which the corporation was formed. Decisions of the board of directors shall be by majority vote. The directors shall serve without compensation except that they shall be reimbursed for their actual expenses incurred in the performance of their duties. No director shall be an officer or employee of the authorizing municipality or county. The initial directors shall be elected by the incorporators of the corporation. Directors shall hold office for overlapping terms. At the time of the election of the first board of directors the directors shall be divided into three groups containing as nearly equal 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. The terms of all directors thereafter shall be six years. The directors shall elect their successors and fill vacancies in the board of directors,  subject to the approval of the governing body of the authorizing county or municipality.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-806 - Corporate powers

35-806.
Corporate powers
A. In addition to the powers granted corporations by title 10,  or otherwise,  the corporation shall have the following powers,  together with all powers incidental thereto or necessary or convenient for the performance of the following:
1. To issue bonds to carry out any of its purposes.
2. To pay compensation for professional and other services as the board of directors shall deem necessary for the business of the corporation.
3. To acquire by purchase,  exchange,  gift,  lease or otherwise and to construct,  improve and equip pollution control facilities.
4. To sell for cash or terms,  exchange and convey pollution control facilities whenever its board of directors finds such action to be in furtherance of the purposes of the corporation.
5. To lease pollution control facilities and collect rent therefor and terminate any such lease upon the failure of the lessee to comply with any of the lease obligations.
6. To make secured or unsecured loans for the purpose of financing or refinancing the acquisition,  construction,  improvement or equipping of pollution control facilities,  to charge and collect interest on such loans and pledge the proceeds of loan agreements as security for the payment of the principal and interest of bonds,  or designated issues of bonds,  issued by the corporation and any agreements made in connection therewith,  whenever the board of directors finds such loans to be in furtherance of the purposes of the corporation.
7. To mortgage,  pledge or otherwise encumber any or all of its properties,  or any part or parts thereof,  whether then owned or later acquired and to pledge the revenues and receipts from such properties as security for the payment of the principal and interest of bonds or designated issues of bonds,  issued by the corporation and any agreements made in connection therewith.
8. To invest funds of the corporation as the board of directors shall direct.
9. To acquire and hold obligations of any kind to carry out any of its purposes.
10. To enter into contracts and execute any agreements or instrument and do any other act necessary or appropriate to carry out its purposes.
B. The corporation shall not have the power to operate any pollution control facility as a business other than as lessor.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-808 - Dissolution of corporation

35-808.
Dissolution of corporation
Whenever the board of directors of the corporation shall determine that the purpose for which the corporation was formed has been substantially accomplished and that all issued bonds and other obligations of the corporation have been fully paid,  the members of the board of directors of the corporation shall thereupon dissolve the corporation in accordance with the provisions of title 10,  and any properties of the corporation shall be distributed and vest in the municipality or county.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-810 - Chapter cumulative; no notice required

35-810.
Chapter cumulative;  no notice required
A. This chapter shall not 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 issuance of any bonds of the corporation or any security therefor,  except as 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 powers of any official or agency of the state and its governmental subdivisions.
B. Pollution control facilities may be financed,  refinanced,  purchased,  constructed,  leased,  improved,  extended and disposed of pursuant to this chapter,  and bonds may be issued under this chapter for any of such purposes,  notwithstanding that any other law may also provide for the acquisition,  purchase,  construction,  improvement and extension or disposition of a similar project or for the issuance of bonds for like purposes and with the exception of the requirements imposed pursuant to title 44,  chapter 12,  article 4,  without regard to the requirements,  restrictions,  limitations or other provisions contained in any other law. Insofar as the provisions of this chapter are inconsistent with any other law of this state,  the provisions of this chapter shall be controlling,  except that the provisions of this chapter shall in no manner diminish the power of any corporation or authority formed under the provisions of chapter 5 of this title,  or impair or diminish any rights,  privileges and immunities of a corporation formed thereunder and any such corporation or authority organized under chapter 5 of this title shall be authorized to issue bonds hereunder for pollution control facilities and shall,  in addition to the powers conferred by chapter 5 of this title,  have all powers conferred by the provisions of this chapter. The provisions of title 34 and this title have no application to corporations or their activities or property or to transactions entered into by them or on their behalf in accordance with this chapter or in the exercise of powers conferred upon them by law or this chapter.
2023 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.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-831 - Exemption from taxation

35-831.
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.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-832 - Municipality or county not liable

35-832.
Municipality or county not liable
The municipality or the county shall not in any event be liable for the payment of the principal or interest of any bonds of the corporation 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 provisions of this state whatsoever.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-841 - Cooperation with governmental bodies

35-841.
Cooperation with governmental bodies
For the purposes of carrying out the provisions of this chapter,  the governing body of a municipality or county may enter into cooperative agreements with governing bodies of any other municipality or county or with the state or any department or agent thereof,  or with the United States or with any agency,  department or instrumentality thereof.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-902 - Allocation

35-902.
Allocation
A. Subject to this chapter,  the total amount of the state ceiling is allocated among projects pursuant to this section. The director shall issue confirmations on a first-come,  first-served basis,  subject to section 35-904,  subsection A in the event of oversubscription,  within any particular category of projects as described in subsection C,  D or E of this section.
B. Twenty-five percent of the state ceiling is allocated to projects that are designated at the sole discretion of the director.
C. Thirty percent of the state ceiling is allocated to qualified mortgage revenue bonds and qualified mortgage credit certificate programs,  including bonds and certificate programs for home improvement and rehabilitation.
D. Forty percent of the state ceiling is allocated to qualified residential rental projects as described in section 142(d) of the United States internal revenue code of 1986.
E. Five percent of the state ceiling is allocated to manufacturing projects.
F. A request shall not be filed and a confirmation shall not be issued to a project unless the project is subject to section 146 of the code. A project is not deemed to have been allocated any portion of the state ceiling unless,  in connection with the project,  this chapter has been substantially complied with.
G. Any request on file with the authority for which a confirmation has not been issued by 5:00 p.m. on March 31,  other than a request for an allocation pursuant to subsection B or D of this section,  is deemed to have expired at 5:00 p.m. on March 31. Other than a confirmation made pursuant to subsection B of this section or for which confirmations have not been extended pursuant to section 35-910,  all or any part of any confirmation 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. on March 31,  evidenced by the filing of a certificate of closing with the authority,  is deemed to have expired.
H. At any given time,  an issuer,  or an issuer together with one or more other issuers,  may not file more than one request for each project,  except that the authority may satisfy an allocation request from one or more categories of projects as described in subsection B,  C,  D or E of this section. This subsection does not prohibit an issuer from refiling a request for a given project if a prior request has expired or filing a request for each separate and distinct project.
I. Beginning from and after October 30,  2023 until July 31,  2030:
1. From March 31 through July 31 of each year,  except for the percentage allocated by the director pursuant to subsection B of this section,  sixty percent of the remaining state ceiling is allocated to projects prescribed in subsections C and D of this section.
2. Notwithstanding section 35-905,  subsection A,  from March 31 through July 31 of each year,  a confirmation may not be allocated to a project prescribed in subsection C of this section in an amount greater than $35, 000, 000.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-903 - Arizona finance authority designated as state registry; fee

35-903.
Arizona finance authority designated as state registry;  fee
A. The Arizona finance authority is designated as the exclusive state registry for:
1. Requests.
2. Recordation of confirmations,  whether outstanding or lapsed.
3. Certificates of closing.
4. Recordation of all requests for carry-forward amounts for specific projects.
5. Other records required for the administration of this chapter.
B. The authority shall develop and maintain separate lists for urban cities,  nonurban areas,  statewide uses and the aggregate for all categories that summarize all information received pursuant to subsection A of this section.
C. Requests and confirmations adopted or issued under this chapter shall be dated and numbered by the director in the order received and issued,  and each item shall be independently entered on the proper list. Each list shall be composed in a manner sufficient to show,  at any time:
1. The dollar amount of confirmations outstanding and not then lapsed.
2. The dollar amount of the remaining allocation then available.
3. The amount of confirmations actually closed.
D. The authority may assess an application fee for processing the requests.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-905 - Restrictions on confirmations; definition

35-905.
Restrictions on confirmations;  definition
A. Before August 31,  a confirmation shall not be allocated to a project in an amount greater than $35, 000, 000,  except that this subsection does not apply to any project that is eligible to receive an allocation pursuant to section 35-902,  subsection B,  C or D. For the purposes of this section,  the amount of allocation to a project shall also include any other state ceiling allocation received by any related person to the project.
B. For the purposes of this section,  " related person"  has the same meaning as provided in section 147(a)(2) of the code,  except that all references to fifty percent shall be changed to twenty-five percent.
2023 Arizona Revised Statutes › Title 35 - Public Finances › § 35-906 - Allocations obtained after March 31 through 5:00 p.m. December 16

35-906.
Allocations obtained after March 31 through 5:00 p.m. December 16
A. Any portions of the state ceiling,  including any portions of the state ceiling subject to a confirmation 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. on March 31,  other than confirmations extended pursuant to section 35-910 and the state ceiling allocated to the discretion of the director pursuant to section 35-902,  subsection B,  shall be pooled and are subject to allocation among requests on a first come,  first served basis.
B. Obtaining and issuing confirmations on or after April 1 through 5:00 p.m. December 16 shall occur as provided in section 35-904,  subject to the following restrictions and changes:
1. Requests may be filed on or after April 1 of each year.
2. A confirmation issued on or after April 1 through 5:00 p.m. December 16 expires and no issuer is deemed to have been allocated any portion of the state ceiling unless the issuer's bonds have been issued or a qualified mortgage credit certificate program has been established and a certificate of closing has been actually filed,  and not merely postmarked,  with the authority no later than ninety days after the date of the confirmation or the first business day after the ninetieth day if the ninetieth day is not a business day,  or before 5:00 p.m. December 16,  whichever occurs first. The confirmation may be extended as provided in section 35-910.
3. Before the director issues the confirmation,  the authority must receive a security deposit in the amount of one percent of the principal amount stated in the request. The security deposit is forfeited to the authority if the bonds are not issued before the expiration of the confirmation or any extension. The security deposit shall not be required pursuant to this paragraph if 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 will include urban development action grant or housing development grant financing,  is a qualified mortgage revenue bond or is a qualified mortgage credit certificate program.
2023 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.
2023 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.