Arizona Revised Statutes Title 48. Special Taxing Districts § 48-1211. Fees, rentals and service charges; reserve fund

A. The board of directors may charge and collect fees, rentals and service charges for any service performed or property furnished by the district. Revenue derived from such sources shall be paid into the maintenance and operating fund of the district established pursuant to § 48-1210, subsection E or to the reserve fund established pursuant to subsection B of this section.

B. The proceedings for the collection of a tax levy under § 48-1210 may provide for the establishment of a reserve fund in an amount found by the board of directors to be sufficient to secure payment of all potential maintenance and operating costs if the regular tax levy fails to collect sufficient monies to fund ordinary maintenance and operating costs for the district. The reserve fund may be funded from either excess revenues from the regular tax levy or from fees, rentals and service charges collected pursuant to this section.

C. Whenever the regular tax levy generates revenues insufficient to meet actual maintenance and regulated operating costs for the district in any fiscal year, the reserve fund shall be exhausted before making an emergency assessment levy on the real property located in the district.