Arizona Revised Statutes Title 28. Transportation § 28-6305. Construction account; expenditures; construction contracts

A. Except as provided in subsection B of this section, monies in the construction account of the regional area road fund shall be spent, pledged or accumulated for the purposes provided in § 28-6304, subsection C, paragraphs 4 and 5, including payment of interest on and repayment of bonds and obligations issued pursuant to chapter 21 of this title if the proceeds of the bonds or obligations are used for the purposes provided in § 28-6304, subsection C, paragraphs 4 and 5.

B. Of the monies deposited in the construction account of the regional area road fund under § 28-6303, the state treasurer shall:

C. The monies distributed under subsection B of this section shall only be spent for planning and administering the plan approved pursuant to § 28-6308 and the costs incurred by the auditor general relating to performance audits under § 28-6313. Before the beginning of each fiscal year, the respective governing bodies of the members of the regional planning agency and the board of directors of the regional public transportation authority shall explicitly identify and approve in budgets the monies to be spent under subsection B of this section for the purposes allowed under this subsection. These expenditures are subject to the annual audit of the governing bodies' financial transactions.

D. The director may enter into construction contracts or contracts incidental to construction contracts payable from monies in either the bond proceeds account or the construction account or both the bond proceeds and construction accounts.