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Arizona State Legislature
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Forty-ninth Legislature - Second Regular Session
 
 
Title 35 - Public Finances
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Chapter 1 BUDGETARY AND FISCAL PROVISIONS FOR STATE AGENCIES
Article 1 General Provisions
35-101 Definitions
35-102 Fiscal year
35-103 Annual financial reports; notification; payments
Article 2 Budget Preparation
35-111 Executive budget; revisions
35-112 Forms for budget unit estimates; date of transmittal
35-113 Submission of budget estimates
35-113.01 Request for federal funds
35-114 Continuous financial planning; submission of tentative budget report; appropriations estimate report
35-115 Contents of budget report
35-116 Supervisory powers of governor relating to budget report; exceptions
35-117 Participation of governor‑elect in budget hearings
35-118 Transmission of budget report to legislature
35-119 Assistance to appropriation committees
35-120 Additional powers of governor
35-121 Format of appropriations
35-122 Strategic plans; program lists; compilation
35-123 Nonappropriated monies; report
35-124 Performance pay component; identification
Article 2.1 Accounting for State Funds
35-131 Accounting system; reports; notice of deficiency; forms
Article 3 Control of Receipts and Expenditures
35-141 General fund; payment of salaries and expenses
35-142 Monies kept in funds separate from state general fund; receipt and withdrawal
35-142.01 Reimbursement of appropriated funds; receipt and deposit
35-143 Collection through budget units; time for collection; failure to collect; liability
35-143.01 Special funds; appropriation; reversion; use
35-144 Budget stabilization fund; definitions
35-145 Control of taxes receivable from counties; statements from county treasurer; violation; penalty
35-146 Deposit of receipts by budget units
35-147 Treasurer's deposits; preparation and disposition
35-148 Payment for interagency services as credit to account of agency; transfer of miscellaneous state monies to general fund; exceptions
35-149 Disposition of private funds; contributions and suspense funds; exception
35-150 Current record of revenues; enforcement powers
35-151 Encumbrance documents; issuance and disposition
35-152 Special masters; payment of fees and expenses
35-154 Unauthorized obligations; effect; liability
35-155 Cash deposit as an alternative to a surety bond
Article 4 Classification and Allotment of Funds
35-171 Bookkeeping procedures for treasurer
35-172 Authorized expenditures classed as appropriated
35-173 Allotment of appropriations; limitations; exceptions
35-174 Vacancy savings; definition; personal services and employee related expenditures; reversion
Article 5 Fiscal Procedures, Controls and Reports
35-181.01 Presentation, approval and payment of claims and payrolls; amended claims
35-181.02 Audit, adjustment and settlement of claims; procedures for rejection
35-181.03 Audit of nonprofit corporations receiving state monies; definition
35-182 Certification of claims
35-183 Countersigning of warrants and vouchers
35-184 Numbering of warrants
35-185 Disbursements of monies
35-185.01 Treasurer's warrant notes; form; redemption; exception
35-185.02 Treasurer's warrant note redemption fund; receipt; appropriation
35-186 Duplicate warrants; notice; bond; form and effect
35-187 Warrants; limitation on payment
35-188 Allowance of set‑off against state; audit of claim
35-189 Issuance of certificate for claim for which no appropriation made
35-190 Incurring obligations after close of fiscal year; lapsing appropriations; exceptions
35-191 Administrative adjustment; refunds; presentation and disposition of claims; exemption
35-192 Authorization for declaration of disaster; authorization for liabilities and expenses; priorities and limitations; review and report of expenditures
35-192.01 Reimbursement procedures
35-192.02 Travel advances; administration; reimbursement
35-193 Revolving funds
35-193.02 Special services revolving fund; contents; administration; annual excess reversion
35-196 Illegal withholding or expenditure of state monies; civil liability
35-196.01 Expenditure of state monies for certain purposes
35-196.02 Use of public funds for abortion prohibited; exception
35-196.03 Refunds for invalid tax laws; appropriation required
35-196.04 Use of public monies for human cloning; prohibition; definition
35-197 Violations; classification
Article 6 Recovery of State Monies Illegally Paid
35-211 Approval, allowance or payment of unauthorized claim; liability of parties; penalty
35-212 Injunctive and civil remedies; definition
35-213 Failure of attorney general to bring action; action by taxpayer; bond; amount of recovery and attorney fees
35-214 Inspection and audit of contract provisions
35-215 Influencing, obstructing or impairing audit; classification
Chapter 2 HANDLING OF PUBLIC FUNDS
Article 1 Custodians of Public Money
35-301 Duties and liabilities of custodian of public monies; violations; classification
35-302 Public money defined
Article 2 State Management of Public Monies
35-310 Definitions
35-311 State board of investment; membership; powers and duties
35-312 Eligible depositories; collateral
35-313 Investment of trust and treasury monies; loan of securities
35-314 Equity investment of trust and treasury monies; definition
35-314.01 Permanent state land fund monies; investment
35-314.02 Budget stabilization fund monies; investment
35-314.03 State, tribal and political subdivision endowment funds; state investment authority
35-315 Servicing banks; qualifications; proposals
35-316 Investment pools; deduction
35-317 State treasurer; duties; safekeeping of securities; interest; exemptions; responsibilities
35-318 Investment managers and advisors; treasury monies; investment services account
Article 2.1 Money Management
35-321 Definitions
35-323 Investing public monies; bidding; security and other requirements
35-323.01 Investment of government monies in certificates of deposit; conditions; definition
35-324 Investment of trust funds; loan of securities; sale of permanent endowment securities
35-325 Servicing bank of public monies
35-326 Local government investment pool
35-326.01 Long-term local government investment pools; fund; exemption
35-327 Treasurer; duties; safekeeping of securities; warrants of financial officers; earnings; exemptions; responsibilities
35-328 Investment of sinking funds
35-329 Funds of charter cities
Article 3 Payment of Agency Accounts
35-341 Definitions
35-342 Payment of agency accounts; delinquency; interest
Article 6 Acceptance of County or Municipal Warrants as Payment of Public Debts
35-381 Acceptance of warrants in payment of debts; exception
35-382 Effect of acceptance of warrants by county treasurer
35-383 Charging warrant to respective funds
Article 7 Sudan Investments and Business Operations
35-391 Definitions
35-391.01 Identification of companies
35-391.02 Required actions
35-391.03 Reporting
35-391.04 Other legal obligations; immunity
35-391.05 Reinvestment in certain companies with scrutinized active business operations
35-391.06 Prohibition on government contracts
Article 8 Terrorism Country Divestments
35-392 State treasurer and retirement system divestments; policy notices
Article 9 Iran Investments
35-393 Definitions
35-393.01 Identification of scrutinized companies
35-393.02 Required actions
35-393.03 Reporting
35-393.04 Other legal obligations; immunity
35-393.05 Reinvestment in certain companies with scrutinized active business operations
35-393.06 Prohibition on government contracts
Chapter 3 PUBLIC INDEBTEDNESS
Article 1 State Tax Anticipation Bonds
35-401 Definitions
35-402 Issuance of bonds
35-403 Form and contents of bonds
35-404 Amount of bonds; limitation
35-405 Resolution for issuance
35-406 Sale of bonds; use of proceeds
35-407 Payment of bonds and interest
35-408 Rights of holder of bond
Article 2 State Indebtedness Bonds
35-421 State loan commissioners; issuance of bonds; exemption of bonds from taxes
35-422 Denominations and terms of bonds
35-423 Interest coupons
35-424 Sale of bonds; notice, publication and bids
35-425 Delivery of bonds
35-426 Application of proceeds to redemption of indebtedness; notice to redeem
35-427 Tax levy for amortization of bonds; determination of tax rate; additional levy; application of monies; violation; penalty
35-428 Redemption of bonds; notice; record of bonds redeemed
35-429 Issuance of state bonds for county, municipal or school district indebtedness
35-430 Cancellation of redeemed bonds; record of redemption; transmittal of abstract of record; payment of interest
35-431 Registration of bond; effect; entry of registration
Article 3 County and Other Municipal Indebtedness
35-451 Local debt limit; exclusion of tax‑exempt property; increase in limitation; authority to issue bonds
35-451.01 Power to use outstanding bond authorizations of common or high school districts
35-452 Election to authorize indebtedness; costs
35-453 Order for election
35-454 Informational pamphlet for election; review; election; return; canvass of vote; certificate of election
35-455 Issuance and sale of bonds; call for election
35-456 Amount, denomination and form of bonds
35-456.01 Bonds; manual affixing of signatures
35-457 Sale of bonds; notice; bids; forfeiture of deposit; definitions
35-458 Levy of tax for payment of interest and bonds
35-458.01 Commercial paper; variable rate bonds; compound interest bonds; bonds subject to tender
35-459 Redemption of bonds and coupons
35-460 Erection of buildings
35-461 Payment of expenses of bond issues
Article 3.1 Tax Anticipation Notes
35-465 Definitions
35-465.01 Tax anticipation notes
35-465.02 Form of notes
35-465.03 Limitations on issuance of notes
35-465.04 Application of taxes; payment of notes
35-465.05 Investment of tax anticipation note proceeds; period of investment covenants
35-465.06 Use of proceeds
35-465.07 Rights of holders
Article 3.2 Grant Anticipation Notes
35-466 Definitions
35-466.01 Grant anticipation notes
35-466.02 Form of notes
35-466.03 Limitations on issuance of notes
35-466.04 Application of grant revenues; principal and interest redemption fund; payment of notes
35-466.05 Investment of note proceeds; period of investment covenants
35-466.06 Use of proceeds
35-466.07 Rights of holders
35-466.08 Prohibition against obligating state or political subdivisions; payment from grant revenues
Article 3.3 Revenue Anticipation Notes
35-467 Definitions
35-467.01 Revenue anticipation notes
35-467.02 Form of notes; definition
35-467.03 Limitations on issuance of notes
35-467.04 Application of revenues, principal and interest redemption fund; payment of notes
35-467.05 Investment of note proceeds; period of investment covenants
35-467.06 Use of proceeds
35-467.07 Rights of holders
35-467.08 Prohibition against obligating state or political subdivisions; payment from revenues
Article 3.4 Bonds Secured by Water Transportation Revenues
35-468 Definitions
35-468.01 Bonds secured by water transportation revenues
35-468.02 Issuance of bonds
35-468.03 Supplemental tax levy; interest fund; redemption fund
35-468.04 Pledge of revenues to secure debt instruments
35-468.05 Agreement of state
35-468.06 Bonds as obligation of political subdivision
35-468.07 Supplemental law
Article 4 Refunding County and Other Municipal Indebtedness
35-471 Refunding bonds; resolution authorizing issuance; definition
35-472 Form and contents of bonds; payment of principal and interest
35-473 Limitation on issuance of refunding bonds
35-473.01 Refunding bonds issued in advance of maturity of the bonds to be refunded; definition
35-474 Levy of tax for payment of bonds
35-475 Exchange or sale of bonds; record of bonds paid or retired
Article 4.1 Summary Sale of Property for Special Assessment Default
35-481 Applicability
35-482 Summary sale of delinquent property
35-483 Option to accelerate upon delinquency
Article 5 Registration and Payment of Bonds
35-491 Registration of bonds; payment of principal and interest; paying agent; security for deposits; record date; definition
35-492 Reregistration or cancellation of registry of bond
35-493 Collection and payment of bond through bank or trust company; effect
35-494 Contracts as long‑term obligations
35-495 Supplemental nature of article
Article 6 Recording State, County and Municipal Bonds
35-501 Department of revenue records of bond issues; debt level analysis and report
35-502 Reports to department of revenue; omission or refusal to comply; classification
35-503 Calculation of debt limits
35-504 Debt oversight commission; membership; compensation; duties
35-505 Exemption; industrial development
Article 7 Federal Income Tax Considerations
35-511 Definitions
35-512 Authority to comply with federal income tax laws
35-513 Rebate set‑aside; authorization
35-514 Construction; right to contest; supplemental nature of article
35-515 Rebate reporting; state agencies
Chapter 4 BANKRUPTCY OF TAXING DISTRICT
Article 1 In General
35-601 Definitions
35-602 Exercise of powers
35-603 Filing petition; payment of expenses
35-604 Resolution authorizing filing of petition and representation of district by attorney
35-605 Powers of taxing district
35-606 Resolution of district assenting to plan as prerequisite of final decree of court becoming effective
35-607 Powers of district to consummate plan; issuance of refunding bonds; hearing upon resolution; notice
35-608 Purpose of article
Chapter 5 INDUSTRIAL DEVELOPMENT FINANCING
Article 1 Incorporation
35-701 Definitions
35-702 Proceedings to incorporate industrial development authority
35-703 Articles of incorporation of industrial development authority
35-704 Amendment to articles
35-705 Board of directors
35-706 Corporate powers
35-707 Assumption of mortgage loans
35-708 Financing certain owner‑occupied single family dwellings; exception
Article 2 Bonds
35-721 Bonds of the corporation
35-722 Approval by elected official if required by federal law
35-723 Prohibition on state debt
35-724 Security for bonds
35-725 Bonds made legal investments
35-726 Approval of general plan before issuing bonds; fee; definition
35-728 Additional powers; allocating low‑income housing tax credits; report; definition
35-729 Exemption from procurement code
Article 3 Tax Exemption and Liability
35-741 Exemption from taxation
35-742 Municipality or county not liable
35-743 Liability insurance
Article 4 Corporations
35-751 Earnings of the corporation and exemption from restrictions
35-752 Dissolution of corporation and vesting of title in municipality or county
35-753 Recordation of documents
35-754 Chapter cumulative; no notice required
Article 5 Cooperation With Governmental Bodies
35-761 Cooperation with public bodies
Chapter 6 POLLUTION CONTROL FINANCING
Article 1 Incorporation
35-801 Definitions
35-802 Proceedings to incorporate pollution control corporations
35-803 Articles of incorporation of pollution control corporations
35-804 Amendment to articles
35-805 Board of directors
35-806 Corporate powers
35-807 Earnings of the corporation
35-808 Dissolution of corporation
35-809 Recordation of documents
35-810 Chapter cumulative; no notice required
Article 2 Bonds
35-821 Bonds of the corporation
35-822 Security for bonds
35-823 Bonds as legal investments
Article 3 Tax Exemption and Liabilities
35-831 Exemption from taxation
35-832 Municipality or county not liable
Article 4 Cooperation With Governmental Bodies
35-841 Cooperation with governmental bodies
Chapter 7 ALLOCATION OF PRIVATE ACTIVITY BONDING AUTHORITY
Article 1 General Provisions
35-901 Definitions
35-902 Allocation
35-903 Department of commerce designated as state registry; fee
35-904 Obtaining and issuing confirmations
35-905 Restrictions on confirmations
35-906 Allocations obtained after June 30 through 5:00 p.m. December 16
35-907 Allocations after 5:00 p.m. December 16
35-908 Principal amount of bonds issued less than confirmation; fee
35-909 Confirmation fees
35-910 Extension of confirmations
35-911 Board powers; certifications
35-912 Limitation of liability
35-913 Special allocations for mortgage revenue bonds and mortgage credit certificates; definitions
Chapter 8 SWAP AGREEMENTS
Article 1 General Provisions
35-1001 Definitions
35-1002 Swap agreements; provisions; purposes; credit enhancement
35-1003 Enforceability
35-1004 Treatment, calculation and payment of amounts due under swap agreements; exemptions from budget
35-1005 Limitation on effect of chapter