Arizona Laws 28-7511. Bonds; freeway mitigation; matching amount
A. A city or town may issue general obligation bonds for the purpose of planning, undertaking and carrying out projects for the elimination of present slum and blighted areas and the prevention of the development of those conditions in the future by mitigating the effects of existing and proposed freeway conditions on cities, towns and neighborhoods. The projects may include acquiring land for recreation, water, sewage and drainage facilities, streets, sidewalks, ways and other public places and other projects to develop or redevelop affected areas.
Terms Used In Arizona Laws 28-7511
- Board: means the transportation board. See Arizona Laws 28-101
- Bonds: means bonds of the board issued pursuant to this article. See Arizona Laws 28-7501
- Department: means the department of transportation acting directly or through its duly authorized officers and agents. See Arizona Laws 28-101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Property: includes both real and personal property. See Arizona Laws 1-215
- Right-of-way: when used within the context of the regulation of the movement of traffic on a highway means the privilege of the immediate use of the highway. See Arizona Laws 28-101
- State: means a state of the United States and the District of Columbia. See Arizona Laws 28-101
B. The board may use bond monies obtained pursuant to section 28-7510 to match on a one to one basis the city or town general obligation bond monies obtained pursuant to this section to provide funding for expenses related to mitigation measures on property located within the department‘s right-of-way. If a city or town obtains bond monies pursuant to this section for the purpose of mitigating the effects of proposed freeway conditions on cities, towns and neighborhoods, this state shall not construct the freeway unless the board agrees to the mitigation measures proposed by the city or town.