House of Representatives

HB 2470

public monies; investment

Sponsors: Representatives Verkamp, Binder

dp	Committee on Counties & Municipalities
W/D	Committee on Appropriations
X	Caucus and COW
	As Passed the House

HB 2470 allows counties to finance county improvement districts through public funds.

History

Currently, ARS §35-323 specifies eligible investments for public monies, including bonds, notes or evidences of indebtedness issued by municipal improvement districts to finance local improvements, if the principal and interest of the obligations are payable from assessments on real property within the improvement district. This legislation extends this option to counties to invest in county improvement districts.

Provisions

· Allows for public monies to be invested in bonds, notes or evidence of indebtedness issued by any county improvement district to finance local improvements.

HB 2470 left the Counties and Municipalities Committee unamended.

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44th Legislature Analyst Initials _______

Second Regular Session February 28, 2000

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