A. If written notice to the members of the joint powers airport authority is given at least thirty days before an operating budget must be adopted, any member of the airport authority may withdraw from membership in the airport authority both:

Terms Used In Arizona Laws 28-8525

  • 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.

1. For any reason specified in the agreement described in section 28-8521.

2. On final payment of its pro rata budget allocation for the airport authority’s current fiscal year and its pro rata share of any outstanding obligations of the airport authority to which the withdrawing member has obligated itself.

B. Withdrawal from membership is effective on the date specified in the agreement described in section 28-8521, if any, but not later than the thirtieth day before an operating budget must be adopted.

C. Any obligations of the withdrawing member remain outstanding until fully paid and satisfied.

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