Arizona Laws 48-1069. Unlawful interest in real property by board member or employee; violation; classification
Current as of: 2024 | Check for updates
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A. A member of the board of directors or an employee of the district shall not have any direct or indirect financial interest in any real property purchased with monies derived from the issuance of bonds by the district.
Attorney's Note
Under the Arizona Laws, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 2 misdemeanor | up to 4 months | up to $750 |
Terms Used In Arizona Laws 48-1069
- Bonds: means bonds of the district issued pursuant to this article. See Arizona Laws 48-1061
- District: means a county improvement district that operates or is formed for the purpose of operating a domestic water delivery system or a wastewater system within the district, whether or not the district is governed in the manner described in article 4 of this chapter. See Arizona Laws 48-1061
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
B. A person who violates this section is guilty of a class 2 misdemeanor.