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Arizona Revised Statutes Title 28. Transportation § 28-7501. Definitions

Current as of January 01, 2025 | Updated by Findlaw Staff

In this article, unless the context otherwise requires:

1. “Any highway purpose” includes any one or more of the following purposes:

(a) Payment of highway obligations.

(b) The cost of and cost allocated to construction, reconstruction, maintenance and repair of public highways and bridges, county, city and town roads and streets.

(c) The acquisition of real property for future highway needs.

(d) The cost of constructing landscape buffers, noise barriers, pedestrian bypasses, multi-use paths and other environmental impact mitigation measures to mitigate the adverse impact of freeways on local neighborhoods.

2. “Bond related expenses” means:

(a) Printing, publication or advertising expenses with respect to the sale and issuance of bonds.

(b) Fees, expenses and costs of registrars.

(c) Fees, expenses and costs of attorneys, accountants, feasibility consultants, computer programmers or other experts employed to aid in the sale and issuance of the bonds.

(d) Other costs, fees and expenses incurred or reasonably related to the issuance and sale of the bonds.

3. “Bond related obligation” means an agreement or contractual relationship between the board and a bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing increased credit on or security for the bonds or liquidity for secondary market transactions.

4. “Bonds” means bonds of the board issued pursuant to this article.

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Cite this article: FindLaw.com - Arizona Revised Statutes Title 28. Transportation § 28-7501. Definitions - last updated January 01, 2025 | https://codes.findlaw.com/az/title-28-transportation/az-rev-st-sect-28-7501/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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