Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 35. Public Finances |
Chapter 3. PUBLIC INDEBTEDNESS |
Article 3.2. Grant Anticipation Notes |
Sec 35-466.01. Grant anticipation notes
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After any issuer has entered into one or more grant agreements, its governing body may issue and sell grant anticipation notes, the principal and interest on which are to be paid solely from the grant revenues to be received under the terms of such grant agreement or agreements. The governing body may also issue grant anticipation notes to refund grant anticipation notes previously issued.