House of Representatives

SB 1544

county road construction finance

Sponsors: Senator Verkamp; Representatives O'Halleran, Sedillo: Brotherton

dp	Committee on Counties & Municipalities
dp	Committee on Public Institutions & Rural Affairs
DPA	Caucus and COW
X	As Passed the House

SB 1544 allows counties to establish a revolving fund to finance infrastructure construction in unincorporated areas of the county.

History

Arizona Revised Statutes (A.R.S.) Title 48, Chapter 6, Article 5 allows a county to form a county road improvement district to help fund road improvements in unincorporated areas of the county. The district is then authorized to bond on behalf of its residents to provide funds for road improvements. SB 1544 would provide an alternate funding plan in order to provide further road improvements in unincorporated areas.

Provisions

· Permits the county board of supervisors to create a revolving fund in the county treasury to fund infrastructure construction in unincorporated areas of the county.

· Allows the board to provide payments to the fund from the county general fund, payments from the sale of county bonds for street improvement purposes, forest reserve monies and monies returned to the county from motor vehicle fuel and user taxes collected by the state.

· Provides that the county may advance monies from the fund to an improvement district to finance infrastructure construction projects costing $300,000 or less and stipulates the advance may be through the purchase of bonds or on notes or evidence of indebtedness of the district for a term of not more than 10 years.

· Stipulates that monies advanced shall be paid back from assessments on real property in the district and provides measures for the district to repay those funds to the county.

· Requires the district to pay interest on any advance.

· Stipulates that all unexpended monies of appropriations from the fund after the appropriations lapse shall revert back to the fund.

· Requires the county treasurer to keep this fund separate from all other funds.

· Provides a definition of infrastructure.

SB 1544 passed the Counties & Municipalities Committee unamended.

SB 1544 passed the Public Institutions & Rural Affairs Committee unamended.

SB 1544 was amended in the Committee of the Whole with a technical and conforming change recommended by the Rules Committee.

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45th Legislature

First Regular Session 2 April 30, 2001

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