Bill > HB2098

This bill modifies existing Arizona law concerning county water augmentation authorities, primarily to expand their ability to finance water projects. It clarifies the definition of a "project" to include a broader range of facilities and the acquisition of water rights, and allows fees collected by the authority to be deposited into a bond fund if they are related to contracting and bonding powers. The bill repeals and reenacts sections related to bond issuance, granting authorities the power to issue revenue bonds for projects and specifying the scope of resolutions authorizing these bonds. It also streamlines the hearing process for bond approvals, clarifies the roles of the board chairperson and executive director, and modifies provisions regarding the sale and security of bonds, including allowing for pledges of revenue and the purchase of outstanding bonds. Furthermore, the bill introduces a requirement for the authority to notify the Attorney General before issuing bonds, allowing the Attorney General to object if the proposed project doesn't comply with the law, and establishes a timeframe for legal challenges to bond issuances. Finally, it adds a new section allowing authorities to construct, acquire, or improve wastewater treatment facilities, drinking water facilities, or nonpoint source projects using loans from the Water Infrastructure Finance Authority of Arizona (WIFA), with specific provisions for loan repayment agreements and definitions of relevant facilities.

Agriculture and Natural Resources

https://apps.azleg.gov/BillStatus/BillOverview/83719