35-504. Debt oversight commission; membership; compensation; duties
A. In order to provide more accurate and meaningful information to the public regarding bond issues, the debt oversight commission is established in the department of administration.
B. The commission consists of the director of the department of administration, who serves as chairperson, and four private citizens who are knowledgeable in the area of finance or bond financing, one who is appointed by the governor and three who are appointed jointly by the president of the senate and the speaker of the house of representatives. The terms of appointive members are three years.
C. An appointment to fill a vacancy on the commission resulting from other than expiration of term is for the unexpired portion of the term.
D. The department of administration shall provide secretarial and staff support services to the commission.
E. The private citizen members of the commission are eligible to receive $50 per day for time spent in the performance of their duties. These monies shall be paid from monies appropriated to the department of administration.
F. The commission shall meet at least annually and, in addition, at the call of the chairperson. The commission shall meet at such times and places as convenient or necessary to conduct its affairs and shall render its findings, reports and recommendations in writing to the governor and to the legislature.
G. The commission shall:
1. Review the information provided to the department of administration as prescribed in section 35-501.
2. Ascertain the bonded indebtedness of all taxing jurisdictions and the relationship to the appropriate debt limitation.
Structure Arizona Revised Statutes
§ 35-101.01 - Definition of substitute check
§ 35-103 - Annual financial reports; notification; payments
§ 35-112 - Forms for budget unit estimates; date of transmittal
§ 35-113 - Submission of budget estimates
§ 35-113.01 - Request for federal funds
§ 35-115 - Contents of budget report
§ 35-116 - Supervisory powers of governor relating to budget report; exceptions
§ 35-117 - Participation of governor-elect in budget hearings
§ 35-118 - Transmission of budget report to legislature
§ 35-119 - Assistance to appropriation committees
§ 35-120 - Additional powers of governor
§ 35-121 - Format of appropriations
§ 35-121.01 - Local minimum wage; reimbursement of state costs; collection; withholding
§ 35-123 - Nonappropriated monies; report
§ 35-124 - Performance pay component; identification
§ 35-125 - Revenue and expenditure estimates; three-year plan; public hearing
§ 35-131 - Accounting system; reports; notice of deficiency; forms
§ 35-141 - General fund; payment of salaries and expenses
§ 35-142 - Monies kept in funds separate from state general fund; receipt and withdrawal
§ 35-143 - Collection through budget units; time for collection; failure to collect; liability
§ 35-143.01 - Special funds; appropriation; reversion; use
§ 35-144 - Budget stabilization fund; definitions
§ 35-146 - Deposit of receipts by budget units
§ 35-147 - Treasurer's deposits; preparation and disposition
§ 35-149 - Disposition of private monies; contributions and suspense funds; exception
§ 35-150 - Current record of revenues; enforcement powers
§ 35-151 - Encumbrance documents; issuance and disposition; exception
§ 35-152 - Special masters; payment of fees and expenses
§ 35-154 - Unauthorized obligations; effect; liability
§ 35-155 - Cash deposit as an alternative to a surety bond
§ 35-171 - Bookkeeping procedures for treasurer
§ 35-172 - Authorized expenditures classed as appropriated
§ 35-173 - Definition of allotment schedule; appropriations; requirements; limits; exceptions
§ 35-181.01 - Presentation, approval and payment of claims and payrolls; amended claims
§ 35-181.02 - Audit, adjustment and settlement of claims; procedures for rejection
§ 35-181.03 - Audit of nonprofit corporations receiving state monies; definition
§ 35-182 - Certification of claims
§ 35-183 - Countersigning of warrants, checks and electronic funds transfer vouchers
§ 35-184 - Numbering of warrants, checks and electronic funds transfer vouchers
§ 35-185 - Disbursements of monies
§ 35-185.01 - Treasurer's warrant notes; form; redemption; exception
§ 35-185.02 - Treasurer's warrant note redemption fund; receipt; appropriation
§ 35-186 - Duplicate warrants or checks; notice; bond; form and effect
§ 35-187 - Warrants, checks and substitute checks; limit on payment
§ 35-188 - Allowance of set-off against state; audit of claim
§ 35-189 - Issuance of certificate for claim for which no appropriation made
§ 35-190 - Incurring obligations after close of fiscal year; lapsing appropriations; exceptions
§ 35-192.01 - Reimbursement procedures
§ 35-192.02 - Travel advances; administration; reimbursement
§ 35-193.02 - Special services revolving fund; contents; administration; annual excess reversion
§ 35-196 - Illegal withholding or expenditure of state monies; civil liability
§ 35-196.01 - Expenditure of state monies for certain purposes; report
§ 35-196.02 - Use of public funds or insurance for abortion prohibited; exception
§ 35-196.03 - Refunds for invalid tax laws; appropriation required
§ 35-197 - Violations; classification
§ 35-211 - Approval, allowance or payment of unauthorized claim; liability of parties; penalty
§ 35-212 - Injunctive and civil remedies; time limit; definition
§ 35-214 - Inspection and audit of contract provisions
§ 35-215 - Influencing, obstructing or impairing audit; classification
§ 35-301 - Duties and liabilities of custodian of public monies; violations; classification
§ 35-302 - Public money defined
§ 35-311 - State board of investment; membership; powers and duties
§ 35-312 - Eligible depositories; collateral
§ 35-313 - Investment of trust and treasury monies; loan of securities
§ 35-314 - Equity investment of trust and treasury monies; definition
§ 35-314.01 - Permanent state land fund monies; investment
§ 35-314.02 - Budget stabilization fund monies; investment
§ 35-314.03 - State, tribal and political subdivision endowment funds; state investment authority
§ 35-315 - Servicing banks; qualifications; proposals; definitions
§ 35-316 - Investment pools; deduction; state treasurer's operating fund
§ 35-318 - Investment managers and advisors; treasury monies; investment services account
§ 35-323 - Investment of public monies; bidding; security and other requirements
§ 35-323.01 - Investment of government monies in deposits; conditions; definition
§ 35-324 - Investment of trust funds
§ 35-325 - Servicing bank of public monies
§ 35-326 - Local government investment pool: definition
§ 35-326.01 - Long-term local government investment pools; management fees; deposit
§ 35-328 - Investment of sinking funds
§ 35-329 - Funds of charter cities
§ 35-342 - Payment of agency accounts; delinquency; interest
§ 35-381 - Acceptance of warrants in payment of debts; exception
§ 35-382 - Effect of acceptance of warrants by county treasurer
§ 35-383 - Charging warrant to respective funds
§ 35-391 - Credit card payments by governmental entities; disclosure; definitions
§ 35-392 - State treasurer and retirement system divestments; policy notices
§ 35-393.01 - Contracting; procurement; investment; prohibitions
§ 35-393.02 - Investment; restricted companies list; notice; immunity; exception
§ 35-393.03 - Applicability; severability
§ 35-403 - Form and contents of bonds
§ 35-404 - Amount of bonds; limitation
§ 35-405 - Resolution for issuance
§ 35-406 - Sale of bonds; use of proceeds
§ 35-407 - Payment of bonds and interest
§ 35-408 - Rights of holder of bond
§ 35-421 - State loan commissioners; issuance of bonds; exemption of bonds from taxes
§ 35-422 - Denominations and terms of bonds
§ 35-424 - Sale of bonds; notice, publication and bids
§ 35-426 - Application of proceeds to redemption of indebtedness; notice to redeem
§ 35-428 - Redemption of bonds; notice; record of bonds redeemed
§ 35-429 - Issuance of state bonds for county, municipal or school district indebtedness
§ 35-431 - Registration of bond; effect; entry of registration
§ 35-451 - Local debt limit; increase in limitation; authority to issue bonds; definitions
§ 35-451.01 - Power to use outstanding bond authorizations of common or high school districts
§ 35-452 - Election to authorize indebtedness; costs
§ 35-455 - Issuance and sale of bonds; call for election
§ 35-456 - Amount, denomination and form of bonds
§ 35-456.01 - Bonds; manual affixing of signatures
§ 35-457 - Sale of bonds; bids; forfeiture of deposit; definitions
§ 35-458 - Levy of tax for payment of bonds; security
§ 35-459 - Redemption of bonds and coupons
§ 35-460 - Erection of buildings
§ 35-461 - Payment of expenses of bond issues
§ 35-462 - Bonds; change of purpose; election; informational pamphlet; ballot
§ 35-465.01 - Tax anticipation notes
§ 35-465.03 - Limitations on issuance of notes
§ 35-465.04 - Application of taxes; payment of notes
§ 35-465.05 - Investment of tax anticipation note proceeds; period of investment covenants
§ 35-465.07 - Rights of holders
§ 35-466.01 - Grant anticipation notes
§ 35-466.03 - Limitations on issuance of notes
§ 35-466.05 - Investment of note proceeds; period of investment covenants
§ 35-466.07 - Rights of holders
§ 35-467.01 - Revenue anticipation notes
§ 35-467.02 - Form of notes; definition
§ 35-467.03 - Limitations on issuance of notes
§ 35-467.04 - Application of revenues, principal and interest redemption fund; payment of notes
§ 35-467.05 - Investment of note proceeds; period of investment covenants
§ 35-467.07 - Rights of holders
§ 35-467.08 - Prohibition against obligating state or political subdivisions; payment from revenues
§ 35-468.01 - Bonds secured by water transportation revenues
§ 35-468.02 - Issuance of bonds
§ 35-468.03 - Supplemental tax levy; interest fund; redemption fund
§ 35-468.04 - Pledge of revenues to secure debt instruments
§ 35-468.05 - Agreement of state
§ 35-468.06 - Bonds as obligation of political subdivision
§ 35-468.07 - Supplemental law
§ 35-471 - Refunding bonds; resolution authorizing issuance; definition
§ 35-472 - Form and contents of bonds; payment of principal and interest
§ 35-473 - Limitation on issuance of refunding bonds
§ 35-473.01 - Refunding bonds issued in advance of maturity of the bonds to be refunded; definition
§ 35-474 - Levy of tax for payment of bonds; security
§ 35-475 - Exchange or sale of bonds; record of bonds paid or retired
§ 35-482 - Summary sale of delinquent property
§ 35-483 - Option to accelerate upon delinquency
§ 35-492 - Reregistration or cancellation of registry of bond
§ 35-493 - Collection and payment of bond through bank or trust company; effect
§ 35-494 - Contracts as long-term obligations
§ 35-495 - Supplemental nature of article
§ 35-501 - Records of bond issues; debt-level analysis and report; definitions
§ 35-502 - Reports; omission or refusal to comply; violation; classification
§ 35-503 - Calculation of debt limits
§ 35-504 - Debt oversight commission; membership; compensation; duties
§ 35-505 - Exemption; industrial development
§ 35-512 - Authority to comply with federal income tax laws
§ 35-513 - Rebate set-aside; authorization
§ 35-514 - Construction; right to contest; supplemental nature of article
§ 35-515 - Rebate reporting; state agencies
§ 35-603 - Filing petition; payment of expenses
§ 35-604 - Resolution authorizing filing of petition and representation of district by attorney
§ 35-605 - Powers of taxing district
§ 35-702 - Proceedings to incorporate industrial development authority
§ 35-703 - Articles of incorporation of industrial development authority
§ 35-704 - Amendment to articles
§ 35-707 - Assumption of mortgage loans
§ 35-708 - Financing certain owner-occupied single family dwellings; exception
§ 35-721 - Bonds of the corporation
§ 35-722 - Approval by elected official if required by federal law
§ 35-723 - Prohibition on state debt
§ 35-725 - Bonds made legal investments
§ 35-726 - Approval of general plan before issuing bonds; fee; definition
§ 35-728 - Additional powers; allocating low-income housing tax credits; report; definition
§ 35-729 - Exemption from procurement code
§ 35-821 - Bonds of the corporation
§ 35-823 - Bonds as legal investments
§ 35-741 - Exemption from taxation
§ 35-742 - Municipality or county not liable
§ 35-743 - Liability insurance
§ 35-751 - Earnings of the corporation and exemption from restrictions
§ 35-752 - Dissolution of corporation and vesting of title in municipality or county
§ 35-753 - Recordation of documents
§ 35-754 - Chapter cumulative; no notice required
§ 35-761 - Cooperation with public bodies
§ 35-762 - Reviewing entities; approval of developments; coordination; definitions
§ 35-773 - State program; representative; plan approval; bond rating
§ 35-802 - Proceedings to incorporate pollution control corporations
§ 35-803 - Articles of incorporation of pollution control corporations
§ 35-804 - Amendment to articles
§ 35-807 - Earnings of the corporation
§ 35-808 - Dissolution of corporation
§ 35-809 - Recordation of documents
§ 35-810 - Chapter cumulative; no notice required
§ 35-831 - Exemption from taxation
§ 35-832 - Municipality or county not liable
§ 35-841 - Cooperation with governmental bodies
§ 35-903 - Arizona finance authority designated as state registry; fee
§ 35-904 - Obtaining and issuing confirmations
§ 35-905 - Restrictions on confirmations; definition
§ 35-906 - Allocations obtained after March 31 through 5:00 p.m. December 16
§ 35-907 - Allocations after 5:00 p.m. December 16
§ 35-908 - Principal amount of bonds issued less than confirmation; fee
§ 35-910 - Extension of confirmations
§ 35-911 - Powers of the authority; certifications
§ 35-912 - Limitation of liability
§ 35-1002 - Swap agreements; provisions; purposes; credit enhancement
§ 35-1005 - Limitation on effect of chapter
§ 35-1101 - Legislative consideration; funds; trust status; report; requirements
§ 35-1202 - Powers of the statewide collateral pool administrator
§ 35-1203 - Subrogation of administrator to depositor's rights; distribution of assets; payment
§ 35-1204 - Mandatory deposit of public funds in eligible depositories; notice; exemption
§ 35-1205 - Authority to make public deposits
§ 35-1206 - Public depositors; immunity
§ 35-1207 - Collateral for public deposits
§ 35-1208 - Qualified escrow agent; substitutions
§ 35-1209 - Reports of eligible depositories
§ 35-1210 - Procedure for payment of losses