A. The Arizona finance authority is established in the office of economic opportunity.

Terms Used In Arizona Laws 41-5352

  • Authority: means the Arizona finance authority. See Arizona Laws 41-5351
  • Director: means the director of the authority. See Arizona Laws 41-5351
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Office: means the office of economic opportunity. See Arizona Laws 41-5301

B. The governor shall appoint the director of the authority to serve at the pleasure of the governor.

C. The Arizona finance authority operations fund is established consisting of monies deposited pursuant to section 41-5355. The authority shall administer the fund. Monies in the fund are continuously appropriated.

D. At the end of the fiscal year, the authority shall transfer all unencumbered monies in the fund in excess of the authority’s operating costs to the economic development fund established by section 41-5302.

 

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