2014 Arizona Revised Statutes
Title 35 - Public Finances
§ 35-751 Earnings of the corporation and exemption from restrictions
35-751. Earnings of the corporation and exemption from restrictions
A. The corporation shall be a nonprofit corporation, and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation.
B. A project shall be exempt from any requirement of competitive bidding or other restrictions imposed on the procedure for the financing of public improvements or the award of contracts for the construction of public improvements and shall also be exempt from any restrictions imposed on municipalities, counties or political subdivisions relating to the leasing, sale or other disposition of property or funds.
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