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Arizona Law Arizona Revised Statutes Title 35Arizona Revised Statutes Title 35
Public Finances
| Chapter 1 | BUDGETARY AND FISCAL PROVISIONS FOR STATE AGENCIES |
| Article 1 | General Provisions |
| 35-101 | Definitions |
| 35-102 | Fiscal year |
| 35-103 | Annual financial reports; notification; payments |
| Article 2 | Budget Preparation |
| 35-111 | Executive budget; revisions |
| 35-112 | Forms for budget unit estimates; date of transmittal |
| 35-113 | Submission of budget estimates |
| 35-113.01 | Request for federal funds |
| 35-114 | Continuous financial planning; submission of tentative budget report; appropriations estimate report |
| 35-115 | Contents of budget report |
| 35-116 | Supervisory powers of governor relating to budget report; exceptions |
| 35-117 | Participation of governor elect in budget hearings |
| 35-118 | Transmission of budget report to legislature |
| 35-119 | Assistance to appropriation committees |
| 35-120 | Additional powers of governor |
| 35-121 | Format of appropriations |
| 35-122 | Strategic plans; program lists; compilation |
| 35-123 | Nonappropriated monies; report |
| Article 2.1 | Accounting for State Funds |
| 35-131 | Accounting system; reports; notice of deficiency; forms |
| Article 3 | Control of Receipts and Expenditures |
| 35-141 | General fund; payment of salaries and expenses |
| 35-142 | Monies kept in funds separate from state general fund; receipt and withdrawal |
| 35-142.01 | Reimbursement of appropriated funds; receipt and deposit |
| 35-143 | Collection through budget units; time for collection; failure to collect; liability |
| 35-143.01 | Special funds; appropriation; reversion; use |
| 35-144 | Budget stabilization fund; definitions |
| 35-145 | Control of taxes receivable from counties; statements from county treasurer; violation; penalty |
| 35-146 | Deposit of receipts by budget units |
| 35-147 | Treasurer's deposits; preparation and disposition |
| 35-148 | Payment for interagency services as credit to account of agency; transfer of miscellaneous state monies to general fund; exceptions |
| 35-149 | Disposition of private funds; contributions and suspense funds; exception |
| 35-150 | Current record of revenues; enforcement powers |
| 35-151 | Encumbrance documents; issuance and disposition |
| 35-152 | Special masters; payment of fees and expenses |
| 35-154 | Unauthorized obligations; effect; liability |
| 35-155 | Cash deposit as an alternative to a surety bond |
| Article 4 | Classification and Allotment of Funds |
| 35-171 | Bookkeeping procedures for treasurer |
| 35-172 | Authorized expenditures classed as appropriated |
| 35-173 | Allotment of appropriations; limitations; exceptions |
| 35-174 | Vacancy savings; definition; personal services and employee related expenditures; reversion |
| Article 5 | Fiscal Procedures, Controls and Reports |
| 35-181.01 | Presentation, approval and payment of claims and payrolls; amended claims |
| 35-181.02 | Audit, adjustment and settlement of claims; procedures for rejection |
| 35-181.03 | Audit of nonprofit corporations receiving state monies; definition |
| 35-182 | Certification of claims |
| 35-183 | Countersigning of warrants and vouchers |
| 35-184 | Numbering of warrants |
| 35-185 | Disbursements of monies |
| 35-185.01 | Treasurer's warrant notes; form; redemption; exception |
| 35-185.02 | Treasurer's warrant note redemption fund; receipt; appropriation |
| 35-186 | Duplicate warrants; notice; bond; form and effect |
| 35-187 | Warrants; limitation on payment |
| 35-188 | Allowance of set off against state; audit of claim |
| 35-189 | Issuance of certificate for claim for which no appropriation made |
| 35-190 | Incurring obligations after close of fiscal year; lapsing appropriations; exceptions |
| 35-191 | Administrative adjustment; refunds; presentation and disposition of claims; exemption |
| 35-192 | Authorization for declaration of disaster; authorization for liabilities and expenses; priorities and limitations; review and report of expenditures |
| 35-192.01 | Reimbursement procedures |
| 35-192.02 | Travel advances; administration; reimbursement |
| 35-193 | Revolving funds |
| 35-193.02 | Special services revolving fund; contents; administration; annual excess reversion |
| 35-196 | Illegal withholding or expenditure of state monies; civil liability |
| 35-196.01 | Expenditure of state monies for certain purposes |
| 35-196.02 | Use of public funds for abortion prohibited; exception |
| 35-196.03 | Refunds for invalid tax laws; appropriation required |
| 35-196.04 | Use of public monies for human cloning; prohibition; definition |
| 35-197 | Violations; classification |
| Article 6 | Recovery of State Monies Illegally Paid |
| 35-211 | Approval, allowance or payment of unauthorized claim; liability of parties; penalty |
| 35-212 | Injunctive and civil remedies; definition |
| 35-213 | Failure of attorney general to bring action; action by taxpayer; bond; amount of recovery and attorney fees |
| 35-214 | Inspection and audit of contract provisions |
| 35-215 | Influencing, obstructing or impairing audit; classification |
| Chapter 2 | HANDLING OF PUBLIC FUNDS |
| Article 1 | Custodians of Public Money |
| 35-301 | Duties and liabilities of custodian of public monies; violations; classification |
| 35-302 | Public money defined |
| Article 2 | State Management of Public Monies |
| 35-310 | Definitions |
| 35-311 | State board of investment; membership; powers and duties |
| 35-312 | Eligible depositories; collateral |
| 35-313 | Investment of trust and treasury monies; loan of securities |
| 35-314 | Equity investment of trust and treasury monies; definition |
| 35-314.01 | Permanent state land fund monies; investment |
| 35-314.02 | Budget stabilization fund monies; investment |
| 35-315 | Servicing banks; qualifications; bids |
| 35-316 | Investment pools; deduction |
| 35-317 | State treasurer; duties; safekeeping of securities; interest; exemptions; responsibilities |
| 35-318 | Investment managers and advisors; treasury monies; investment services account |
| 35-319 | Reports; global security risk |
| Article 2.1 | Money Management |
| 35-321 | Definitions |
| 35-323 | Investing public monies; bidding; security and other requirements |
| 35-324 | Investment of trust funds; loan of securities; sale of permanent endowment securities |
| 35-325 | Servicing bank of public monies |
| 35-326 | Local government investment pool |
| 35-327 | Treasurer; duties; safekeeping of securities; warrants of financial officers; earnings; exemptions; responsibilities |
| 35-328 | Investment of sinking funds |
| 35-329 | Funds of charter cities |
| Article 3 | Payment of Agency Accounts |
| 35-341 | Definitions |
| 35-342 | Payment of agency accounts; delinquency; interest |
| Article 6 | Acceptance of County or Municipal Warrants as Payment of Public Debts |
| 35-381 | Acceptance of warrants in payment of debts; exception |
| 35-382 | Effect of acceptance of warrants by county treasurer |
| 35-383 | Charging warrant to respective funds |
| Chapter 3 | PUBLIC INDEBTEDNESS |
| Article 1 | State Tax Anticipation Bonds |
| 35-401 | Definitions |
| 35-402 | Issuance of bonds |
| 35-403 | Form and contents of bonds |
| 35-404 | Amount of bonds; limitation |
| 35-405 | Resolution for issuance |
| 35-406 | Sale of bonds; use of proceeds |
| 35-407 | Payment of bonds and interest |
| 35-408 | Rights of holder of bond |
| Article 2 | State Indebtedness Bonds |
| 35-421 | State loan commissioners; issuance of bonds; exemption of bonds from taxes |
| 35-422 | Denominations and terms of bonds |
| 35-423 | Interest coupons |
| 35-424 | Sale of bonds; notice, publication and bids |
| 35-425 | Delivery of bonds |
| 35-426 | Application of proceeds to redemption of indebtedness; notice to redeem |
| 35-427 | Tax levy for amortization of bonds; determination of tax rate; additional levy; application of monies; violation; penalty |
| 35-428 | Redemption of bonds; notice; record of bonds redeemed |
| 35-429 | Issuance of state bonds for county, municipal or school district indebtedness |
| 35-430 | Cancellation of redeemed bonds; record of redemption; transmittal of abstract of record; payment of interest |
| 35-431 | Registration of bond; effect; entry of registration |
| Article 3 | County and Other Municipal Indebtedness |
| 35-451 | Local debt limit; exclusion of tax exempt property; increase in limitation; authority to issue bonds |
| 35-451.01 | Power to use outstanding bond authorizations of common or high school districts |
| 35-452 | Election to authorize indebtedness; costs |
| 35-453 | Order for election |
| 35-454 | Informational pamphlet for election; review; election; return; canvass of vote; certificate of election |
| 35-455 | Issuance and sale of bonds; call for election |
| 35-456 | Amount, denomination and form of bonds |
| 35-456.01 | Bonds; manual affixing of signatures |
| 35-457 | Sale of bonds; notice; bids; forfeiture of deposit; definitions |
| 35-458 | Levy of tax for payment of interest and bonds |
| 35-458.01 | Commercial paper; variable rate bonds; compound interest bonds; bonds subject to tender |
| 35-459 | Redemption of bonds and coupons |
| 35-460 | Erection of buildings; call for bids; publication; award of contract; bond; proprietary specifications; conditions of contract; phase construction |
| 35-461 | Payment of expenses of bond issues |
| Article 3.1 | Tax Anticipation Notes |
| 35-465 | Definitions |
| 35-465.01 | Tax anticipation notes |
| 35-465.02 | Form of notes |
| 35-465.03 | Limitations on issuance of notes |
| 35-465.04 | Application of taxes; payment of notes |
| 35-465.05 | Investment of tax anticipation note proceeds; period of investment covenants |
| 35-465.06 | Use of proceeds |
| 35-465.07 | Rights of holders |
| Article 3.2 | Grant Anticipation Notes |
| 35-466 | Definitions |
| 35-466.01 | Grant anticipation notes |
| 35-466.02 | Form of notes |
| 35-466.03 | Limitations on issuance of notes |
| 35-466.04 | Application of grant revenues; principal and interest redemption fund; payment of notes |
| 35-466.05 | Investment of note proceeds; period of investment covenants |
| 35-466.06 | Use of proceeds |
| 35-466.07 | Rights of holders |
| 35-466.08 | Prohibition against obligating state or political subdivisions; payment from grant revenues |
| Article 3.3 | Revenue Anticipation Notes |
| 35-467 | Definitions |
| 35-467.01 | Revenue anticipation notes |
| 35-467.02 | Form of notes; definition |
| 35-467.03 | Limitations on issuance of notes |
| 35-467.04 | Application of revenues, principal and interest redemption fund; payment of notes |
| 35-467.05 | Investment of note proceeds; period of investment covenants |
| 35-467.06 | Use of proceeds |
| 35-467.07 | Rights of holders |
| 35-467.08 | Prohibition against obligating state or political subdivisions; payment from revenues |
| Article 3.4 | Bonds Secured by Water Transportation Revenues |
| 35-468 | Definitions |
| 35-468.01 | Bonds secured by water transportation revenues |
| 35-468.02 | Issuance of bonds |
| 35-468.03 | Supplemental tax levy; interest fund; redemption fund |
| 35-468.04 | Pledge of revenues to secure debt instruments |
| 35-468.05 | Agreement of state |
| 35-468.06 | Bonds as obligation of political subdivision |
| 35-468.07 | Supplemental law |
| Article 4 | Refunding County and Other Municipal Indebtedness |
| 35-471 | Refunding bonds; resolution authorizing issuance; definition |
| 35-472 | Form and contents of bonds; payment of principal and interest |
| 35-473 | Limitation on issuance of refunding bonds |
| 35-473.01 | Refunding bonds issued in advance of maturity of the bonds to be refunded; definition |
| 35-474 | Levy of tax for payment of bonds |
| 35-475 | Exchange or sale of bonds; record of bonds paid or retired |
| Article 4.1 | Summary Sale of Property for Special Assessment Default |
| 35-481 | Applicability |
| 35-482 | Summary sale of delinquent property |
| 35-483 | Option to accelerate upon delinquency |
| Article 5 | Registration and Payment of Bonds |
| 35-491 | Registration of bonds; payment of principal and interest; paying agent; security for deposits; record date; definition |
| 35-492 | Reregistration or cancellation of registry of bond |
| 35-493 | Collection and payment of bond through bank or trust company; effect |
| 35-494 | Contracts as long term obligations |
| 35-495 | Supplemental nature of article |
| Article 6 | Recording State, County and Municipal Bonds |
| 35-501 | Department of revenue records of bond issues; debt level analysis and report |
| 35-502 | Reports to department of revenue; omission or refusal to comply; classification |
| 35-503 | Calculation of debt limits |
| 35-504 | Debt oversight commission; membership; compensation; duties |
| Article 7 | Federal Income Tax Considerations |
| 35-511 | Definitions |
| 35-512 | Authority to comply with federal income tax laws |
| 35-513 | Rebate set aside; authorization |
| 35-514 | Construction; right to contest; supplemental nature of article |
| 35-515 | Rebate reporting; state agencies |
| Chapter 4 | BANKRUPTCY OF TAXING DISTRICT |
| Article 1 | In General |
| 35-601 | Definitions |
| 35-602 | Exercise of powers |
| 35-603 | Filing petition; payment of expenses |
| 35-604 | Resolution authorizing filing of petition and representation of district by attorney |
| 35-605 | Powers of taxing district |
| 35-606 | Resolution of district assenting to plan as prerequisite of final decree of court becoming effective |
| 35-607 | Powers of district to consummate plan; issuance of refunding bonds; hearing upon resolution; notice |
| 35-608 | Purpose of article |
| Chapter 5 | INDUSTRIAL DEVELOPMENT FINANCING |
| Article 1 | Incorporation |
| 35-701 | Definitions |
| 35-702 | Proceedings to incorporate industrial development authority |
| 35-703 | Articles of incorporation of industrial development authority |
| 35-704 | Amendment to articles |
| 35-705 | Board of directors |
| 35-706 | Corporate powers |
| 35-707 | Assumption of mortgage loans |
| 35-708 | Financing certain owner occupied single family dwellings; exception |
| Article 2 | Bonds |
| 35-721 | Bonds of the corporation |
| 35-722 | Approval by elected official if required by federal law |
| 35-723 | Prohibition on state debt |
| 35-724 | Security for bonds |
| 35-725 | Bonds made legal investments |
| 35-726 | Approval of general plan before issuing bonds; fee; definition |
| 35-728 | Additional powers; allocating low income housing tax credits; report; definition |
| 35-729 | Exemption from procurement code |
| Article 3 | Tax Exemption and Liability |
| 35-741 | Exemption from taxation |
| 35-742 | Municipality or county not liable |
| 35-743 | Liability insurance |
| Article 4 | Corporations |
| 35-751 | Earnings of the corporation and exemption from restrictions |
| 35-752 | Dissolution of corporation and vesting of title in municipality or county |
| 35-753 | Recordation of documents |
| 35-754 | Chapter cumulative; no notice required |
| Article 5 | Cooperation With Governmental Bodies |
| 35-761 | Cooperation with public bodies |
| Chapter 6 | POLLUTION CONTROL FINANCING |
| Article 1 | Incorporation |
| 35-801 | Definitions |
| 35-802 | Proceedings to incorporate pollution control corporations |
| 35-803 | Articles of incorporation of pollution control corporations |
| 35-804 | Amendment to articles |
| 35-805 | Board of directors |
| 35-806 | Corporate powers |
| 35-807 | Earnings of the corporation |
| 35-808 | Dissolution of corporation |
| 35-809 | Recordation of documents |
| 35-810 | Chapter cumulative; no notice required |
| Article 2 | Bonds |
| 35-821 | Bonds of the corporation |
| 35-822 | Security for bonds |
| 35-823 | Bonds as legal investments |
| Article 3 | Tax Exemption and Liabilities |
| 35-831 | Exemption from taxation |
| 35-832 | Municipality or county not liable |
| Article 4 | Cooperation With Governmental Bodies |
| 35-841 | Cooperation with governmental bodies |
| Chapter 7 | ALLOCATION OF PRIVATE ACTIVITY BONDING AUTHORITY |
| Article 1 | General Provisions |
| 35-901 | Definitions |
| 35-902 | Allocation |
| 35-903 | Department of commerce designated as state registry; fee |
| 35-904 | Obtaining and issuing confirmations |
| 35-905 | Restrictions on confirmations |
| 35-906 | Allocations obtained after June 30 through 5:00 p.m. December 16 |
| 35-907 | Allocations after 5:00 p.m. December 16 |
| 35-908 | Principal amount of bonds issued less than confirmation; fee |
| 35-909 | Confirmation fees |
| 35-910 | Extension of confirmations |
| 35-911 | Board powers; certifications |
| 35-912 | Limitation of liability |
| 35-913 | Special allocations for mortgage revenue bonds and mortgage credit certificates; definitions |
| Chapter 8 | SWAP AGREEMENTS |
| Article 1 | General Provisions |
| 35-1001 | Definitions |
| 35-1002 | Swap agreements; provisions; purposes; credit enhancement |
| 35-1003 | Enforceability |
| 35-1004 | Treatment, calculation and payment of amounts due under swap agreements; exemptions from budget |
| 35-1005 | Limitation on effect of chapter |
Richard Keyt is a business, transactions, contracts, real estate, estate planning and internet law attorney licensed to practice law in Arizona. He has provided legal services to businesses and people in Arizona since 1980. Formerly a partner at one of the largest law firms in Arizona, Rick now provides big firm quality legal services at small firm rates. Rick can be reached by telephone at 602-906-4953, ext. 3, email at rickkeyt@keytlaw.com and fax at 602-297-6890. Rick's Arizona law, internet, e-commerce and domain name law web site is KEYTLaw, located at www.keytlaw.com. Communicating with Richard Keyt via email or otherwise does not cause you to become a client or cause your communications to be confidential or subject to the attorney client privilege.
KEYTLaw does not guaranty that the Arizona Revised Statutes displayed on www.keytlaw.com are current or complete versions of Arizona statutory law. The statutory information is furnished "as is" and it may not include the current version of the law or new Arizona statutes. See the Arizona State Legislature's web site for more information about the most recent version of Arizona statutes.
This page was last modified on May 27, 2009.
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