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2022 Arizona Revised Statutes
Title 9 - Cities and Towns
§ 9-513 - Lease of privately owned utility
Universal Citation:
AZ Rev Stat § 9-513 (2022)
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9-513. Lease of privately owned utility
A. When it is impracticable to issue bonds as provided by section 9-512 for an improvement or enterprise deemed necessary for the public welfare, the municipal corporation may lease at a stipulated rental a public improvement or utility.
B. The rental contract shall reserve to the municipal corporation the option to purchase the improvement or utility in the future.
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