This bill proposes to amend section 5-832 of the Arizona Revised Statutes, specifically updating the language regarding the authority's investments and obligations. The current law mandates that the authority's investments must mature in alignment with the timing of fund asset requirements, and it specifies that if the liquid assets in the fund are insufficient, the board must direct the treasurer to liquidate securities to meet obligations and notify the auditor general.

The proposed changes include the insertion of the terms "or any account or subaccount" to clarify that the provisions apply not only to the fund but also to any associated accounts or subaccounts. Additionally, the bill replaces the term "authority's" with "statutory" to emphasize the nature of the obligations. Overall, these updates aim to enhance clarity and ensure that the authority's financial management is adequately addressed across all relevant accounts.

Statutes affected:
Introduced Version: 5-832