There Is a Newer Version
of
the Arizona Revised Statutes
2011 Arizona Revised Statutes
Title 35 Public Finances
35-404 Amount of bonds; limitation
Universal Citation:
AZ Rev Stat § 35-404 (1996 through 1st Reg Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
35-404. Amount of bonds; limitation
The total amount of tax anticipation bonds, including both principal and interest, shall not exceed fifty per cent of the ad valorem taxes, plus fifty per cent of the state's portion of excise taxes as estimated by the department of revenue, for the years recited in the bonds, uncollected and not in the state treasury at the time of issuance of the bonds.
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