Title 35 — Public Finances
10 chapters · 289 sections in this title.
A.R.S. § 35-801 Definitions
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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…
A.R.S. § 35-802 Proceedings to incorporate pollution control corporations
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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. Th…
A.R.S. § 35-803 Articles of incorporation of pollution control corporations
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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 "pollutio…
A.R.S. § 35-804 Amendment to articles
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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 m…
A.R.S. § 35-805 Board of directors
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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 …
A.R.S. § 35-806 Corporate powers
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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 pur…
A.R.S. § 35-807 Earnings of the corporation
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The corporation shall be a nonprofit corporation and no part of its net earnings remaining after payment of its debts and expenses shall inure to the benefit of any individual, firm or corporation.
A.R.S. § 35-808 Dissolution of corporation
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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 direct…
A.R.S. § 35-809 Recordation of documents
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The articles of incorporation and the certificate of dissolution of the corporation shall be filed for record with the corporation commission.
A.R.S. § 35-810 Chapter cumulative; no notice required
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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 procee…
A.R.S. § 35-821 Bonds of the corporation
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A. All principal and interest of bonds issued by the corporation shall be payable solely out of the revenues and receipts derived from the corporation's sale of property, loan repayments or lease rentals, or out of the proceeds of bonds issued hereunder, as shall be specified in …
A.R.S. § 35-822 Security for bonds
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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…
A.R.S. § 35-823 Bonds as legal investments
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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.
A.R.S. § 35-831 Exemption from taxation
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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…
A.R.S. § 35-832 Municipality or county not liable
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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, …
A.R.S. § 35-841 Cooperation with governmental bodies
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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…