There is a newer version of the Arizona Revised Statutes
2005 Arizona Revised Statutes - Revised Statutes §48-2995 Limitation on power of board to incur district indebtedness
The board of directors or other officers of the district shall not incur any debt or liability, either by issuing bonds or otherwise, in excess of the express provisions of this chapter. Any debt or liability incurred in excess of such limitation shall be absolutely void.
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