42-5030.01. Distribution of revenues for school facilities
104 words·~1 min read·
/az/title-42/42-5030-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
From and after June 30, 1999, if there are outstanding state school facilities revenue bonds pursuant to title 41, chapter 56, article 6, and if the amount of monies available under section 37-521, subsection B, paragraph 1 is insufficient to pay the debt service due on the outstanding bonds in that fiscal year, the state treasurer shall transfer to the state school facilities revenue bond debt service fund established pursuant to section 41-5754 the amount that is necessary to pay the debt service due in that fiscal year on the outstanding bonds from state general fund revenues that were collected pursuant to this chapter.