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8 chapters · 274 sections in this title.
A.R.S. § 40-1136 Bond obligations of the metropolitan public transit authority
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All bonds issued pursuant to this article shall be obligations of the authority issuing such bonds, and payable only in accordance with the terms thereof and shall not be obligations general, special or otherwise of the state of Arizona or any county or municipality thereof. Such…
A.R.S. § 40-1137 Bonds as legal investments
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Bonds issued under the provisions of this article are made securities in which all public officers and bodies of the state and all municipalities and political subdivisions of this state, all insurance companies and associations and other persons carrying on an insurance business…
A.R.S. § 40-1138 Limitation on indebtedness
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An authority shall not incur an indebtedness which exceeds one million dollars. As used in this section, "indebtedness" includes, without limitation, any and all forms thereof which an authority is authorized to incur by this article or by any other law.
A.R.S. § 40-1139 Annual financial statement of authority; estimate of expenses; notice of hearing on estimate
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A. The board of directors of each metropolitan public transit authority, on or before the third Monday in July each year, shall prepare a full and complete statement of the financial affairs for the preceding fiscal year and an estimate of the different amounts which will be requ…