§ 15-1696 – Commercial paper; requirements
15-1696. Commercial paper; requirements A. The board has the power and is hereby authorized to issue commercial paper from time to time to provide short-term financing for any capital project or costs and expenses related to a capital project of one or more institutions or to provide for payment of commercial paper or other obligations […]
§ 15-1693 – Bonds as legal investments
15-1693. Bonds as legal investments The state and all counties, cities, towns and other municipal corporations, political subdivisions and public bodies, and public officers of any thereof, all banks, bankers, trust companies, savings banks and institutions, building and loan associations, investment companies and other persons carrying on a banking business, all insurance companies, insurance associations […]
§ 15-1681 – Definitions
15-1681. Definitions In this article, unless the context otherwise requires: 1. " Acquire" includes to purchase, lease, lease-purchase, erect, build, construct, reconstruct, raze, remodel, repair, replace, alter, extend, expand, better, equip, furnish, develop, improve and embellish a project, and the acquisition, preparation and development of a site or sites therefor. 2. " Board" means the […]
§ 15-1694 – Excision of unconstitutional and ineffective parts of article
15-1694. Excision of unconstitutional and ineffective parts of article It is hereby declared that the sections, clauses, sentences and parts of this article are severable, are not matters of mutual essential inducement and any of them may be excised by any court of competent jurisdiction if this article would otherwise be unconstitutional or ineffective. It […]
§ 15-1682 – Powers
15-1682. Powers The board shall have power for each institution, as defined in this article, to: 1. Acquire, if authorized by the legislature, any project or projects, or any combination thereof, and to secure indirect or third-party financing for or own, operate and maintain the same and establish, own, operate and maintain a system of […]
§ 15-1695 – Supplemental nature of article; construction and purpose
15-1695. Supplemental nature of article; construction and purpose The powers conferred by this article shall be in addition to and supplemental to the powers conferred by any other law, general or special, and bonds may be issued under this article notwithstanding the provisions of any other such law and without regard to the procedure required […]
§ 15-1682.01 – Lease-purchase agreements
15-1682.01. Lease-purchase agreements A. Any lease-purchase agreement executed by the board relating to land acquisition, capital projects, energy systems or energy management systems shall provide that: 1. The obligation of this state to make any payment under the agreement is a current expense of the board and is not a general obligation indebtedness of this […]
§ 15-1682.02 – Indirect and third party financing; review; reporting
15-1682.02. Indirect and third party financing; review; reporting A. The board may secure indirect or third party financing for any project if the following conditions are met: 1. The term of the indirect or third party financing does not exceed the earlier of forty years or the useful life of the capital improvements. 2. The […]
§ 15-1682.03 – University capital improvement lease-to-own and bond fund; lease-to-own and bond capital improvement agreements
15-1682.03. University capital improvement lease-to-own and bond fund; lease-to-own and bond capital improvement agreements A. The university capital improvement lease-to-own and bond fund is established consisting of the monies provided by the Arizona board of regents pursuant to this section, monies deposited pursuant to section 5-572 and monies appropriated by the legislature. The board shall […]
§ 15-1683 – Issuance of bonds
15-1683. Issuance of bonds A. The board shall have power, and is hereby authorized from time to time, to issue bonds: 1. To acquire any one project, or more than one, or any combination thereof, for such institution, if both of the following conditions are met: (a) As of the date of issuance of bonds […]