Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 40. Public Utilities and Carriers |
Chapter 6. URBAN MASS TRANSPORTATION SYSTEMS |
Article 4. Financing for Metropolitan Public Transit Authority |
Sec 40-1138. Limitation on indebtedness
Latest version.
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An authority shall not incur an indebtedness which exceeds one million dollars. As used in this section, "indebtedness" includes, without limitation, any and all forms thereof which an authority is authorized to incur by this article or by any other law.