All acts granting authority to the board to construct or acquire any buildings, projects or facilities and to issue bonds therefor shall be kept in full force and effect but shall be supplemented by this enactment if both of the following occur:

Terms Used In Arizona Laws 15-1686

  • Acquire: includes to purchase, lease, lease-purchase, erect, build, construct, reconstruct, raze, remodel, repair, replace, alter, extend, expand, better, equip, furnish, develop, improve and embellish a project, and the acquisition, preparation and development of a site or sites therefor. See Arizona Laws 15-1681
  • Board: means the Arizona board of regents or its successor. See Arizona Laws 15-1681
  • Bonds: means any bonds issued pursuant to this article. See Arizona Laws 15-1681
  • Project: means and includes buildings, structures, areas and facilities which, as determined by the board, are required by or necessary for the use or benefit of each of such institutions, including, without limiting the generality of the foregoing, student, faculty or staff housing facilities, residence halls, dormitories and apartments; student union and recreational buildings and stadiums; other facilities for student, faculty or staff services; any facility or building leased to the United States of America; parking garages and areas; offices, classrooms, laboratories, dining halls and food service facilities, libraries, auditoriums, or parts thereof, or additions or extensions thereto; heating, lighting and other utility service facilities in connection therewith, or parts thereof, or additions or extensions thereto; whether heretofore acquired and now or hereafter used for any or all of the purposes aforesaid, or as may be hereafter acquired under this article, with all equipment and appurtenant facilities; or any one, or more than one, or all of the foregoing, or any combination thereof, for any institution, including sites therefor. See Arizona Laws 15-1681

1. Bonds remain authorized but not sold and the land, project, buildings or facilities have not been fully acquired or constructed.

2. Due to the issuance of bonds authorized by this article, any revenues which otherwise would have been used to secure the unissued bonds, in whole or in part, have been applied to payment of bonds authorized by this article, then the board may issue the remaining bonds so authorized solely for the purposes of acquiring or constructing or completing the acquisition and construction of the projects heretofore authorized as parity bonds, notwithstanding the fact that the acts authorizing such additional bonds may limit the revenues available to be pledged for their repayment to specified revenues of the board.

  Previous section
Next section  
 Article 5 Contents