Arizona Laws 9-244. Levy of taxes
A. The common council may levy and collect annually, upon the assessed value of the real and personal property within the town, as shown by the equalized assessment roll of the current year, except such as is, or may be, exempt from taxation under the laws of the state, property taxes to defray the salaries of officers, and the ordinary and contingent expenses of the corporation, not herein otherwise provided for, and for constructing and repairing streets, sewers, sidewalks and crosswalks, or bridges and culverts upon such streets and sidewalks.
Terms Used In Arizona Laws 9-244
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Property: includes both real and personal property. See Arizona Laws 1-215
- Public debt: Cumulative amounts borrowed by the Treasury Department or the Federal Financing Bank from the public or from another fund or account. The public debt does not include agency debt (amounts borrowed by other agencies of the Federal Government). The total public debt is subject to a statutory limit.
B. The limitation imposed by this section shall not prohibit the right to levy and collect amounts necessary to defray the charges of the public debt of the corporation.
C. Nothing contained in this section shall be held to repeal, modify or affect the provisions of Title 42, Chapter 17, Article 2.