In this article, unless the context otherwise requires:
Terms Used In Arizona Laws 9-441
- Contract: A legal written agreement that becomes binding when signed.
- Property: includes both real and personal property. See Arizona Laws 1-215
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
1. "Housing" means any structure suitable for residence by an individual or family.
2. "Housing development area" means an area within a municipality that is declared by the local governing body to be in serious need of housing and that is declared to be in need of the expenditure of public monies to assist the development of housing in the area.
3. "Housing development project" means any undertaking related to real property, structures or improvements in a housing development area, for the purpose of establishing housing and other facilities necessary or incidental to the housing and primarily for the use of those residing in the housing.
4. "Local governing body" means the council or legislative body charged with governing the municipality.
5. "Municipality" means an incorporated city or town.
6. "Obligee" includes any bondholder, any agents or trustees for any bondholders or any lessor demising to the municipality property used in connection with a housing development project, or any assignee or assignees of such lessor’s interest or any part of the lessor’s interest, and the federal government when it is a party to any contract with the municipality.