Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 35. Public Finances |
Chapter 3. PUBLIC INDEBTEDNESS |
Article 3.1. Tax Anticipation Notes |
Sec 35-465.03. Limitations on issuance of notes
Latest version.
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The amount of such notes issued by such taxing district in any fiscal year shall not exceed ninety per cent of the aggregate of all uncollected taxes estimated to be received by the district for the fiscal year as shown by the current budget.