Arizona § 45-1218 - Dam repair loans
Full text of Arizona Arizona Revised Statutes § 45-1218 — Dam repair loans, with citation guidance and answers to common questions.
§ 45-1218. Dam repair loans
A. The director may grant loans from the dam repair fund to dam owners to defray the costs of repairing dams which the director determines to be dangerous to the safety of life and property but which are not in an emergency condition. Loans shall be granted on such terms and conditions as may be imposed by the director.
B. The loans granted by the director shall be for a term of not more than twenty years.
C. The loans shall bear interest at the following rates:
1. If the loan is for a term of not more than five years, the rate is three per cent per year.
2. If the loan is for a term of more than five years but not more than ten years, the rate is five per cent per year.
3. If the loan is for a term of more than ten years, the rate is six per cent per year.
D. Each loan shall be evidenced by a contract between the dam owner and the director, acting on behalf of this state. The contract shall provide for the loan by this state of a stated amount to defray some or all of the costs of repairing the dam. The contract shall provide for equal annual payments of principal and interest for the term of the loan.
E. The attorney general may commence whatever actions are necessary to enforce the contract and achieve repayment of loans provided by the director pursuant to this section.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 45-1218
What does Arizona Revised Statutes § 45-1218 cover?
Section 45-1218 ("Dam repair loans") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 45-1218?
A common citation format is "Arizona Revised Statutes § 45-1218" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 45-1218 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.