A political subdivision may issue highway project advancement notes to refund highway project advancement notes previously issued and other obligations if the proceeds of the previously issued highway project advancement notes and other obligations were or are applied to the financing of the advance to which the highway project advance agreement relates.

Terms Used In Arizona Laws 28-7686

  • highway: means the entire width between the boundary lines of every way if a part of the way is open to the use of the public for purposes of vehicular travel. See Arizona Laws 28-101
  • Highway project: means a highway project that is on the federal aid system, national highway system or state route or state highway system and that is included in the department's state highway construction plan or the transportation improvement plan of a regional association of governments, except that a highway project does not include any local street improvements. See Arizona Laws 28-7681
  • Highway project advance agreement: means a written agreement entered into in accordance with section 28-7677 and either Section 9-500. See Arizona Laws 28-7681
  • Highway project advancement notes: means notes authorized by this article. See Arizona Laws 28-7681
  • Political subdivision: means a county, city or town. See Arizona Laws 28-7681

 

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