Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 35. Public Finances |
Chapter 3. PUBLIC INDEBTEDNESS |
Article 3.2. Grant Anticipation Notes |
Sec 35-466.03. Limitations on issuance of notes
Latest version.
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The amount of such notes secured by grant revenues issued by the issuer shall not exceed the aggregate of all uncollected grant revenues to be received by the governing body under the terms of the applicable grant agreement or agreements.