Bill > SB1134

This bill amends Arizona law regarding county water augmentation authorities, focusing primarily on their ability to issue bonds and finance water-related projects. The bill expands the definition of a "project" to include a broader range of water-related facilities such as canals, pipelines, pumping stations, water treatment plants, and the acquisition of water rights. It provides the county water augmentation authority with more flexible bonding powers, allowing them to issue revenue bonds to finance water projects and enter into loan agreements with the Water Infrastructure Finance Authority of Arizona. The bill clarifies that these bonds are not general obligations of the state or county, but are payable only from the authority's own revenues. Key changes include streamlining the bond issuance process, adding provisions for attorney general notification before bond issuance, and allowing the authority to construct or improve wastewater treatment, drinking water, and nonpoint source projects with borrowed funds. The bill also modifies procedural requirements for bond hearings, introduces new provisions for bond security and pledges, and exempts these bonds from state and local taxation, ultimately providing county water augmentation authorities with more comprehensive tools to manage and develop water infrastructure.

Agriculture and Natural Resources

https://apps.azleg.gov/BillStatus/BillOverview/82111