28-7677. Acceleration of right-of-way acquisition, design or construction of eligible highway and transportation projects
371 words·~2 min read·
/az/title-28/28-7677A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. If the department enters into an agreement with a political subdivision or Indian tribe for accelerated right-of-way acquisition, design or construction of an eligible highway project, the agreement may provide for the advancing to the department by the political subdivision or Indian tribe of monies needed for the right-of-way acquisition, design or construction and for the repayment by the department of the advanced monies, with interest, if any, at the agreed on rate, to the political subdivision or Indian tribe.
The political subdivision or Indian tribe may make an advance from any available monies, and any advance constitutes an eligible investment for sinking funds or other funds of the political subdivision or Indian tribe.
B. The department shall repay the political subdivision or Indian tribe for an advance, together with interest, if any, on the advance at the agreed on rate, from monies available to the department for the eligible project pursuant to a mutually agreed on repayment schedule. The period for repayment shall not be more than five years from the date of the advance. Notwithstanding chapters 17 and 18 of this title, an advance, together with interest on the advance, may be repaid by the department from monies in a regional area road fund construction account and from revenues distributed pursuant to section 28-6538, subsection B.
C. If the department enters into an agreement with a political subdivision, regional planning agency, metropolitan planning organization or council of governments or designated grant recipient to accelerate a transportation project, the agreement may provide that the political subdivision may advance to the department monies needed for the transportation project. The agreement may also provide for the department's repayment of the advanced monies to the political subdivision with interest at a specified rate. The political subdivision may make an advance from any available monies. Any advance constitutes an eligible investment for sinking funds or other funds of the political subdivision.
D. The department's repayment as described in subsection C of this section shall be made from monies available to the department for the transportation project pursuant to the mutually agreed on repayment schedule. An advance, together with interest on the advance, may be repaid by the department from any lawfully available monies.