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Code · Arizona · Title 9 — Code of Civil Procedure

9-513. Lease of privately owned utility

59 words·~1 min read·/az/title-9/9-513

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. When it is impracticable to issue bonds as provided by section 9-512 for an improvement or enterprise deemed necessary for the public welfare, the municipal corporation may lease at a stipulated rental a public improvement or utility.
B. The rental contract shall reserve to the municipal corporation the option to purchase the improvement or utility in the future.
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