Bill > SB1616

This bill modifies Arizona law regarding county water augmentation authorities, primarily focusing on their bonding and financial powers. The bill expands the definition of a "project" to include a broader range of water-related facilities, such as canals, pipelines, pumping stations, and water treatment plants, and explicitly allows authorities to acquire water rights. It provides more detailed guidelines for issuing revenue bonds, including specifying how bond proceeds can be used, how bonds can be secured, and the legal protections for bondholders. The bill also introduces a new provision allowing water augmentation authorities to construct or improve wastewater and drinking water facilities using loans from the Water Infrastructure Finance Authority of Arizona. Additionally, the bill clarifies that these bonds are not general obligations of the state or county, and can only be repaid from specific revenue sources. The bill makes several technical changes, such as updating terminology (e.g., changing "chairman" to "chairperson") and providing more precise language about bond issuance, hearings, and financial procedures. Importantly, the bill requires the authority to notify the Attorney General before issuing bonds and provides a framework for loan repayment and project financing that aims to give water augmentation authorities more flexibility in addressing water infrastructure needs.

Government Affairs

https://apps.azleg.gov/BillStatus/BillOverview/83079