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

Terms Used In Arizona Laws 28-7696

  • Political subdivision: means a county, city, town or special taxing district established pursuant to section 48-5102 to construct or assist in the construction of a transportation project. See Arizona Laws 28-7691
  • Transportation project: means all or a portion of a project that is included in the state's transportation improvement program or a plan, as defined in section 28-6351, including the project planning, environmental work, design, right-of-way acquisition or construction for the transportation project and associated rolling stock and operating systems. See Arizona Laws 28-7691
  • Transportation project advance agreement: means a written agreement, entered into in accordance with section 28-7677 and Section 9-500. See Arizona Laws 28-7691
  • Transportation project advancement notes: means notes authorized by this article. See Arizona Laws 28-7691

 

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