48-4466. Settlement of replenishment accounts
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/az/title-48/48-4466A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. On or before June 30 of each year, a district member whose replenishment account reflects a net debit balance shall:
1. Enter into a contract with the district for replenishment services pursuant to section 48-4470 in an amount sufficient to offset the debit balance or allocate an amount of services under an existing contract to the reporting year in an amount sufficient to offset the debit balance.
2. Purchase replenishment services pursuant to section 48-4472 in an amount sufficient to offset the debit balance, designating the replenishment services to be used for that purpose.
3. Surrender credits to the district pursuant to section 48-4465 in an amount sufficient to offset the debit balance.
B. On or before August 15 of each year, the district shall prepare a revised account statement for each district member that reflects any purchase of replenishment services or surrender of credits by the district member pursuant to subsection A of this section.