48-7001. Definitions

In this chapter, unless the context otherwise requires:

1. "Ad valorem tax" means the secondary property taxes levied by a district against the net assessed limited property valuation of real and personal property in the district.

2. "Assessment" means a charge for the costs of any public infrastructure purpose levied by the district against specific real property within the district for the costs of any public infrastructure purpose based on the benefit determined by the board to be received by the specific real property against which the assessment is levied.

3. "Authority" means the Arizona finance authority established by section 41-5352.

4. "Board" means the board of directors of a district created pursuant to this chapter.

5. "Bonds":

(a) Means any bond prescribed by this chapter and issued by a district.

(b) Includes general obligation bonds, assessment bonds, revenue bonds and refunding bonds.

6. "Clerk" means the person appointed by the board to be the district clerk.

7. "County" means the county in which a district is formed pursuant to this chapter.

8. "Debt service" means the principal of, interest on and premium, if any, on the bonds, when due, whether at maturity or prior redemption and fees and costs of registrars, trustees, paying agents or other agents necessary to handle the bonds and the costs of credit enhancement or liquidity support.

9. "District" means a state affordability infrastructure district formed pursuant to this chapter.

10. "Executive director" means the executive director of the authority or the executive director's designee.

11. "Financing plan" means the district's capital plan containing financial projections, engineering studies, cost allocation, sequencing and market-value analyses.

12. "Formation order" means the written order issued by the authority evidencing its final approval of the formation of a district pursuant to this chapter.

13. "General plan" means the general plan described in section 48-7002, subsection B, as the plan may be amended.

14. "Market value" has the same meaning prescribed in section 28-7091, as indicated by an appraisal of the real property by an appraiser who is licensed or certified pursuant to title 32, chapter 36.

15. "Maximum authorized tax rate" means the maximum tax rate for ad valorem taxes pledged to secure general obligation bonds approved at an election authorizing the levy of ad valorem taxes and the issuance of general obligation bonds and indicated in the petition, provided that the maximum authorized tax rate shall not exceed $5 per $100 of net assessed limited property valuation of property within the boundaries of the district, except as prescribed in section 48-7021, subsection B.

16. "Municipality" means a city or town in which a district is formed pursuant to this chapter.

17. "Net premium" means the difference between the par amount of the general obligation bond issue and the general obligation bond issue price that is determined pursuant to United States department of the treasury regulations.

18. "O/M tax" means a secondary property tax levied to pay the expenses of operating, maintaining and administering the district and the public infrastructure financed by the district, including legal expenses and expenses associated with insurance coverage, as approved by the district in its budget.

19. "Owner" means the person or entity that, on the day the action, election or proceeding is begun or held, appears to be the fee title owner of real property as shown on the property tax assessment roll.

20. "Petition" means a petition submitted to the authority to initiate formation of a district pursuant to this chapter.

21. "Petitioner" means the person or entity that initiates the formation of a district by submitting a petition to the authority pursuant to this chapter and includes any successor or assignee of that person or entity that the authority recognizes as the petitioner for the purposes of the petition and formation order.

22. "Public infrastructure" means all improvements listed in this paragraph that will result in a beneficial use principally to land within the geographical limits of the district and may include a district's share of any improvements listed in this paragraph if the district board determines such share is proportionate to the beneficial use of such improvements to land within the geographical limits of the district, improvements within or outside the geographical limits of the district, necessary or incidental work, including land clearance and environmental remediation activities, whether newly constructed, renovated or existing, and all necessary or desirable appurtenances. For the purposes of this paragraph, adoption by the district board of a resolution of intent pursuant to section 48-7008 shall conclusively establish that the improvements or, if applicable, share of the improvements that are the subject of the resolution will result in a beneficial use principally to land within the geographical limits of the district. Public infrastructure improvements are:

(a) Water, wastewater, sewer, stormwater and flood control facilities and appurtenances used for the development, treatment, storage, conveyance, control, reuse, distribution, connection and lawful disposition of potable and nonpotable water, wastewater, stormwater and floodwaters for residential, commercial, governmental, irrigation and fire-suppression uses, excluding infrastructure dedicated primarily to agricultural irrigation facilities impacted by other improvements authorized by this chapter, all to the extent located within or necessary to serve the district. Notwithstanding any other provision of this chapter, a district shall not finance, construct, acquire, install, own or operate any water, wastewater, sewer or related facilities described in this chapter if those facilities are located or will be located within the certificated service territory of any public service corporation that holds a certificate of convenience and necessity issued pursuant to title 40, chapter 2, article 4, unless the affected public service corporation has provided prior written authorization to the district.  If the affected public service corporation provides that written authorization, the district must plan, design, engineer, construct and install the water, wastewater, sewer or related facilities in coordination with and to the standards of the affected public service corporation and shall convey ownership of these facilities to the public service corporation on completion.

(b) Transportation and mobility facilities, improvements and appurtenances used to provide vehicular and nonvehicular circulation, access, egress and parking, including streets, roads, highways, bridges, alleys, parking facilities, sidewalks, trails, pathways, bicycle facilities, equestrian routes and other areas and improvements intended for motorized and nonmotorized travel and parking, and, if located within or necessary to serve the district, railway corridors, rail crossings, grade separations, sidings, signalization and related rail transportation facilities and traffic management and control facilities and devices, including signals, intelligent transportation systems, controls, pavement markings, wayfinding, signage and lighting and illuminations systems, including street lighting, pathway lighting, area lighting and related electrical and control facilities.

(c) Public realm and open space amenities, including pedestrian malls, parks, plazas, recreational facilities other than stadiums, and other areas and improvements intended for public entertainment, assembly, and recreation, together with landscaping, grading, earthworks, structures, plantings, trees, irrigation and water delivery systems and related site improvements. Construction or maintenance of water parks or decorative water features, including lakes, ponds or lagoons, is prohibited, except as provided in section 45-132, subsection B, paragraph 4.

(d) Public buildings and public safety facilities, including police, fire and emergency services facilities and related improvements.

(e) Communications and digital infrastructure, including fiberoptic, wireless and broadband facilities, conduits, towers, antennas, data transmission systems, network equipment, public safety communications facilities, and related appurtenances and rights-of-way.

(f) Equipment, vehicles, furnishings, technology and other personal property and appurtenances related to or necessary for the operation of any public infrastructure authorized by this chapter.

(g) Refinancing any matured or unmatured bonds with new bonds.

23. "Public infrastructure purpose" means:

(a) Planning, designing, engineering, constructing, acquiring or installing public infrastructure.

(b) Acquiring, converting, renovating or improving existing facilities for public infrastructure.

(c) Acquiring interests in real property for public infrastructure.

(d) Establishing, maintaining and replenishing reserves in order to secure payment of debt service on bonds.

(e) Funding and paying from bond proceeds interest accruing on bonds for a period of not to exceed three years after their date of issuance and costs of issuance of the bonds and underwriter and placement agent fees.

(f) Providing for the timely payment of debt service on indebtedness of the district or of development fees or similar exactions imposed by a municipality or other public entity, to the extent those charges are imposed to fund public infrastructure that is located within, primarily serves or is necessitated by development within the district.

(g) Refinancing any matured or unmatured bonds with new bonds.

(h) Incurring expenses of the district that are incidental to and reasonably necessary to carry out the purposes specified in this paragraph.

24. "Qualified elector" means a person who is a qualified elector pursuant to title 16 and who resides within the boundaries of a district.

25. "Treasurer" means the person appointed by the board to be the district treasurer.