Arizona Laws 48-183. Use of proceeds of loan and grant; limitation
Notwithstanding the provisions of any general, special or local law, the proceeds of any loan, grant or purchase of bonds shall be used only for the purposes authorized by the contract or agreement or approved by the federal government. If so authorized or approved the following items of cost shall be payable from any funds made available to a district through a loan or grant, or from any sale or exchange of bonds authorized by a contract or agreement made pursuant to this article:
Terms Used In Arizona Laws 48-183
- Bonds: includes bonds, notes, temporary notes, temporary bonds, interim receipts, interim certificates, certificates of indebtedness, refunding notes, refunding bonds or other evidences of indebtedness or obligations of the district. See Arizona Laws 48-171
- Contract: A legal written agreement that becomes binding when signed.
- District: includes any irrigation district, drainage district, flood control district, agricultural improvement district, electrical district or power district, and in addition thereto any district, political subdivision, governmental agency, corporation or instrumentality of the state having territorial boundaries and created or organized for the purpose of benefiting or performing services for lands in the state. See Arizona Laws 48-171
- Federal government: includes the United States, the president of the United States, the federal emergency administrator of public works, reconstruction finance corporation, or any agency, instrumentality or corporation of the United States, which has been or may be designated, created or authorized by or pursuant to any act or acts of the Congress, or which is owned or controlled, directly or indirectly, by the United States. See Arizona Laws 48-171
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
1. Engineering, inspection, accounting and legal costs and expenses in connection with the preparation or performance of any contract or agreement authorized by this article.
2. The cost of issuance of any bonds authorized by this article, including printing, advertising, accounting, legal and other similar expenses in connection therewith.
3. Insurance premiums, compensation insurance, contractors’ bonds and all other proper items of expense incurred during the period while any work provided for by the contract or agreement is under construction, and interest on money borrowed during such period and an additional period of not exceeding six months after completion.