The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
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.
41-5355 - Assets; cost of operation and administration; taxation
41-5355. Assets; cost of operation and administration; taxation
A. Any monies, pledges or property issued or given to the Arizona finance authority, whether by appropriation, loan, gift or otherwise, constitute the assets of the Arizona finance authority.
B. This state is not responsible for any obligation incurred by the authority.
C. All costs and expenses of the Arizona finance authority shall be paid from bond proceeds of bonds issued by any industrial development authority established by the Arizona finance authority or other monies of the Arizona finance authority, and to the extent not prohibited by state or federal law or by contract, the monies of the greater Arizona development authority that are available to pay the Arizona finance authority's costs and expenses.
D. The authority and its income are exempt from taxation in this state.