There is a newer version of the Arizona Revised Statutes
2016 Arizona Revised Statutes
Title 35 - Public Finances
§ 35-404 Amount of bonds; limitation
AZ Rev Stat § 35-404 (2016) What's This?
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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