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.
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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.
48-4505 - District funds; allocation of revenues; purposes
48-4505. District funds; allocation of revenues; purposes
A. The district shall establish and maintain a general fund and a water acquisition fund in addition to the bond fund established under section 48-4549.
B. The general fund consists of revenues received from:
1. The portion of the district's ad valorem property tax levy under section 48-4503 that is allocated for administration costs, costs of acquiring district water and capacity costs, other than amounts levied for the payment of bonds and bond related expenses.
2. The portion of the groundwater augmentation fees that is transferred to the district pursuant to section 48-4504.
3. Sales of state demonstration project water that the district acquires under section 45-896.01. Proceeds from selling demonstration project water shall be separately accounted for and spent only for capacity costs.
4. The portion of the district's water acquisition fund representing capacity costs recovered through the replenishment tax under section 48-4501.
C. The water acquisition fund consists of revenues received from the replenishment tax under sections 48-4470, 48-4472 and 48-4501.
D. The district shall pay:
1. Its administrative costs, costs of acquiring district water and capacity costs only from the general fund.
2. Its water acquisition costs only from the water acquisition fund.