Arizona Revised Statutes Title 42. Taxation § 42-17110. Budget of a newly incorporated city or town

A. Notwithstanding any other provision of this article, a city or town that is incorporated after the third Monday in July or before June 30 in any fiscal year may adopt an interim budget by ordinance for the remainder of the fiscal year in which the city or town was incorporated.

B. The city or town shall hold hearings on the proposed budget as prescribed by this article.

C. The city or town may issue warrants pursuant to §§ 9-247 through 9-250 to pay necessary expenses, which shall be redeemed when monies become available in the next fiscal year.

D. The interim budget is not a base for computing allowable increases in the budget for the succeeding full fiscal year. The budget for the succeeding full fiscal year may be made as if no interim budget had been adopted.