The Arizona Revised Statutes have been updated to include the revised sections from the 55th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 55th Legislature, 2nd Regular Session, which convenes in January 2022.
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.
36-1417 - Power of public body to provide additional remedies to obligee
36-1417. Power of public body to provide additional remedies to obligee
A public housing authority, city, town or county may by resolution, trust indenture, lease or other contract confer on any obligee holding or representing a specified amount in bonds, or holding a lease, the right, in addition to all rights that may otherwise be conferred on the happening of an event of default as defined in the resolution or instrument, by an action or proceeding in any court of competent jurisdiction:
1. To cause possession of any housing project or any part of a housing project to be surrendered to any such obligee, which possession may be retained by the bondholder or trustee as long as the public housing authority, city, town or county continues in default.
2. To obtain the appointment of a receiver of any housing project of the public housing authority, city, town or county, or any part of a housing project, and of the rents and profits from the housing project. If a receiver is appointed, the receiver may enter and take possession of the housing project or any part of the housing project and, as long as the public housing authority, city, town or county continues to default, operate and maintain it and collect and receive all fees, rents, revenues or other charges thereafter arising from the housing project and shall keep the monies in a separate account or accounts and apply them in accordance with the obligations of the public housing authority, city, town or county as the court directs.
3. To require the public housing authority, city, town or county and its officers and agents to account as if it and they were the trustees of an express trust.