The Arizona Revised Statutes have been updated to include the revised sections from the 53rd Legislature, 2nd Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 54th Legislature, 1st Regular Session, which convenes in January 2019.
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
In this article, unless the context otherwise requires:
1. "Any highway purpose" includes any one or more of the following purposes:
(a) Payment of highway obligations.
(b) The cost of and cost allocated to construction, reconstruction, maintenance and repair of public highways and bridges, county, city and town roads and streets.
(c) The acquisition of real property for future highway needs.
(d) The cost of constructing landscape buffers, noise barriers, pedestrian bypasses, multi-use paths and other environmental impact mitigation measures to mitigate the adverse impact of freeways on local neighborhoods.
2. "Bond related expenses" means:
(a) Printing, publication or advertising expenses with respect to the sale and issuance of bonds.
(b) Fees, expenses and costs of registrars.
(c) Fees, expenses and costs of attorneys, accountants, feasibility consultants, computer programmers or other experts employed to aid in the sale and issuance of the bonds.
(d) Other costs, fees and expenses incurred or reasonably related to the issuance and sale of the bonds.
3. "Bond related obligation" means an agreement or contractual relationship between the board and a bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing increased credit on or security for the bonds or liquidity for secondary market transactions.
4. "Bonds" means bonds of the board issued pursuant to this article.