41-3032.16. Arizona power authority; conditional termination; July 1, 2032
143 words·~1 min read·
/az/title-41/41-3032-16A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The Arizona power authority terminates on July 1, 2032, and title 30, chapter 1, article 1 and this section are repealed on January 1, 2033, if the authority:
1. Has no outstanding contractual obligations with the United States or any United States agency.
2. Has no debts or obligations that were issued to finance the cost of the Hoover power plant modifications project, the Hoover power plant uprating project or other facilities related to the Boulder Canyon project.
3. Has otherwise provided for paying or retiring these debts or obligations.
B. If any contractual debt or obligation listed in subsection A of this section exists and a satisfactory provision has not been made to pay or retire the debt or obligation, the authority, and title 30, chapter 1, article 1, shall continue in existence until the debt or obligation is fully satisfied.