SB 1172
Initials VP/AA Page 1 Transmitted
ARIZONA HOUSE OF REPRESENTATIVES
Fifty-sixth Legislature
First Regular Session
Senate: FIN DP 6-1-0-0 | 3
rd
Read DPA 30-0-0-0
House: WM DP 10-0-0-0 | 3
rd
Read 58-0-2-0
SB 1172: fire district bonding; limitation
Sponsor: Senator Mesnard, LD 13
Transmitted to the Governor
Overview
Limits the maximum principal amount of bonds in a fire district board's election order and requires
additional information in the election order.
History
Under current statute, fire district board election orders contain:
1) The maximum amount of bonds to be issued;
2) The maximum number of years bonds of any issue or series may run from their date not
exceeding thirty years;
3) The purpose for which the bonds are issued;
4) The maximum rate of interest the bonds are to bear; and
5) The date and hours of the election and location of the polling places. (A.R.S. § 48-806)
Provisions
1. Prohibits the maximum principal amount of bonds issued from exceeding 120% of the districts
statutory debt limitation when combined with the district's current outstanding general
obligation debt amount. (Sec. 1)
2. Requires the election order to also include the current outstanding general debt amount and
the statutory debt limitation of the district. (Sec. 1)
3. Removes the ability of an elected chief and secretary treasurer to order an election. (Sec. 1)
4. Makes technical changes. (Sec. 1)
☐ Prop 105 (45 votes) ☐ Prop 108 (40 votes) ☐ Emergency (40 votes) ☐ Fiscal Note