35-467.06. Use of proceeds
42 words·~1 min read·
/az/title-35/35-467-06A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The proceeds from the sale of revenue anticipation notes shall be paid into the treasury of the taxing district. The proceeds shall be used by the taxing district to defray the expenses of the district as set forth in the annual budget.