Arizona Revised Statutes Title 48. Special Taxing Districts § 48-2411. Annual estimate of district expenditures

A. The board of directors shall, on or before the first meeting of the board of supervisors in July each year, furnish the board of supervisors and the assessor of the county in which the district is located, or if the district is not entirely within the county, then as otherwise provided by this article, to the board of supervisors and assessor of each county in which any portion of the district is located, an estimate in writing of the amount of money needed for the purposes of the district for the ensuing fiscal year.

B. The amount shall be sufficient to raise the annual interest on the outstanding bonds, to pay the estimated cost of repair, the incidental expenses of the district, and in any year in which any bonds fall due, an amount sufficient to pay the principal of the outstanding bonds as they mature.

C. If the revenues of the district are sufficient to discharge such obligations without the levy of a tax, the district shall certify that fact to the board of supervisors, and the filing of the budget shall not be required.