49-1221. Clean water revolving fund A. The clean water revolving fund is established to be maintained in perpetuity consisting of: 1. Monies appropriated by the legislature for the clean water revolving fund. 2. Monies received for that purpose from the United States government, including capitalization grants. 3. Monies received from the issuance and sale of […]
49-1222. Clean water revolving fund; administration A. The clean water revolving fund is established. The board shall administer the fund pursuant to rule and in compliance with the requirements of this article and the clean water act. B. On notice from the board, the state treasurer shall invest and divest monies in the fund as […]
49-1223. Clean water revolving fund; purposes; capitalization grants A. Monies in the clean water revolving fund may be used for the following purposes: 1. Making wastewater treatment facility and nonpoint source project loans to political subdivisions and Indian tribes under section 49-1225. 2. Purchasing or refinancing debt obligations of political subdivisions or refinancing debt obligations […]
49-1224. Clean water revolving fund financial assistance; procedures; rules A. In compliance with any applicable requirements, a political subdivision may apply to the authority for, accept and incur indebtedness as a result of a loan, or other financial assistance under section 49-1223, subsection A, paragraphs 1, 2 and 3, from the clean water revolving fund […]
49-1225. Clean water revolving fund financial assistance; terms A. Financial assistance from the clean water revolving fund shall be evidenced by a financial assistance agreement or bonds of a political subdivision, delivered to and held by the authority. B. A loan under this section: 1. Shall be repaid in not to exceed thirty years from […]
49-1226. Enforcement; attorney general The attorney general may take actions necessary to enforce the loan contract and achieve repayment of loans provided by the authority pursuant to sections 49-1224 and 49-1225.
49-1241. Drinking water revolving fund A. The drinking water revolving fund is established to be maintained in perpetuity consisting of: 1. Monies appropriated by the legislature for the drinking water revolving fund. 2. Monies received for that purpose from the United States government, including capitalization grants. 3. Monies received from the issuance and sale of […]
49-1242. Drinking water revolving fund; administration; capitalization grant transfer account A. The drinking water revolving fund is established. The board shall administer the fund pursuant to rule and in compliance with this article and the safe drinking water act. B. On notice from the board, the state treasurer shall invest and divest monies in the […]
49-1243. Drinking water revolving fund; purposes; capitalization grants A. Monies in the drinking water revolving fund may be used for the following purposes: 1. Making drinking water facility loans including forgivable principal to political subdivisions of this state, Indian tribes under section 49-1245 and other eligible entities as determined by the board pursuant to the […]
49-1244. Drinking water revolving fund financial assistance; procedures A. In compliance with any applicable requirements, a drinking water facility may apply to the authority for and accept and incur indebtedness as a result of a loan or any other financial assistance pursuant to section 49-1243, subsection A, paragraphs 2, 3 and 4 from the drinking […]
49-1245. Drinking water revolving fund financial assistance; terms A. A loan from the drinking water revolving fund shall be evidenced by a loan repayment agreement or bonds of a political subdivision, delivered to and held by the authority. B. A loan under this section: 1. Shall be repaid in not to exceed thirty years from […]
49-1246. Enforcement; attorney general The attorney general may take actions necessary to enforce the loan contract and achieve repayment of loans provided by the authority pursuant to sections 49-1244 and 49-1245.
49-1261. Water quality bonds A. The authority, through the board of directors, may issue negotiable water quality bonds in a principal amount that in its opinion is necessary to provide sufficient monies for financial assistance under this article, maintaining sufficient reserves to secure the bonds, to pay the necessary costs of issuing, selling and redeeming […]
49-1262. Water quality bonds; purpose A. Water quality bonds may be issued to provide financial assistance, to provide matching state monies for the clean water revolving fund and the drinking water revolving fund, to increase the capitalization of the clean water revolving fund and to increase the capitalization of the drinking water revolving fund to […]
49-1263. Bond obligations of the authority Bonds issued under this article are obligations of the water infrastructure finance authority of Arizona, are payable only according to their terms and are not obligations general, special or otherwise of this state. The bonds do not constitute a legal debt of this state and are not enforceable against […]
49-1264. Certification of bonds by attorney general The board may submit any water quality bonds issued under this article to the attorney general after all proceedings for their authorization have been completed. On submission the attorney general shall examine and pass on the validity of the bonds and the regularity of the proceedings. If the […]
49-1265. Water quality bonds as legal investments Water quality bonds issued under this article are securities in which public officers and bodies of this state and of municipalities and political subdivisions of this state, all companies, associations and other persons carrying on an insurance business, all financial institutions, investment companies and other persons carrying on […]
49-1266. Agreement of state This state pledges to and agrees with the holders of the bonds that this state will not limit or alter the rights vested in the water infrastructure finance authority of Arizona or any successor agency to collect the monies necessary to produce sufficient revenue to fulfill the terms of any agreements […]
49-1267. Hardship grant fund A. The hardship grant fund is established to be administered by the authority consisting of: 1. Monies received for that purpose from the United States government, including monies that are awarded to this state pursuant to title II of the clean water act and that are no longer obligated to the […]
49-1268. Hardship grant financial assistance A. In compliance with any applicable requirements: 1. A political subdivision or Indian tribe may apply to the authority for and accept financial and technical assistance pursuant to section 49-1267, subsection C. To qualify for financial assistance pursuant to this section, the political subdivision’s or Indian tribe’s project must appear […]
