This bill proposes several updates to the Arizona Revised Statutes concerning the county water augmentation authority. Key changes include the repeal of sections 45-1991 and 45-1997, and the addition of new sections 45-1991 and 45-1997, which will introduce new provisions related to the authority's ability to issue revenue bonds and manage projects. The definition of "County" will be updated to clarify the percentage of area required for authority designation, and the definition of "Project" will be expanded to include various facilities and activities related to water management, such as canals, pipelines, and treatment plants.

Additionally, the bill modifies the authority's financial operations, allowing for more flexibility in how fees are assessed and collected, and clarifying the procedures for issuing bonds. It introduces provisions for loan repayment agreements with the water infrastructure finance authority, detailing the authority's obligations and the conditions under which these loans can be repaid. The bill also emphasizes that bonds issued under this chapter are not obligations of the state or its political subdivisions, ensuring that the authority's financial responsibilities are clearly delineated. Overall, these updates aim to enhance the authority's capacity to manage water resources effectively and ensure compliance with legal requirements.

Statutes affected:
Introduced Version: 45-1901, 45-1973, 45-1976, 45-1991, 45-1993, 45-1994, 45-1996, 45-1997, 45-2000, 45-402, 45-1992