15-1682.02. Indirect and third party financing; review; reporting
188 words·~1 min read·
/az/title-15/15-1682-02A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The board may secure indirect or third party financing for any project if the following conditions are met:
1. The term of the indirect or third party financing does not exceed the earlier of forty years or the useful life of the capital improvements.
2. The project for which indirect or third party financing is secured is reviewed by the joint committee on capital review. Private entities are not required to divulge proprietary information to the committee for review.
B. For a project that is to be developed on board or institutional land, that is intended to be commercial in nature and if the majority of the project's business is anticipated to come from the nonuniversity population, the board or institution shall report on the scope, purpose and estimated cost of the project to the joint committee on capital review at least two months before the anticipated execution of an agreement. A private entity is not required to divulge proprietary information to the joint committee on capital review. The joint committee on capital review may provide recommendations to the board or a university on the reported project.