Arizona § 28-7501 - Definitions

§ 28-7501. Definitions

In this article, unless the context otherwise requires:

1. "Any highway purpose" includes any one or more of the following purposes:

(a) Payment of highway obligations.

(b) The cost of and cost allocated to construction, reconstruction, maintenance and repair of public highways and bridges, county, city and town roads and streets.

(c) The acquisition of real property for future highway needs.

(d) The cost of constructing landscape buffers, noise barriers, pedestrian bypasses, multi-use paths and other environmental impact mitigation measures to mitigate the adverse impact of freeways on local neighborhoods.

2. "Bond related expenses" means:

(a) Printing, publication or advertising expenses with respect to the sale and issuance of bonds.

(b) Fees, expenses and costs of registrars.

(c) Fees, expenses and costs of attorneys, accountants, feasibility consultants, computer programmers or other experts employed to aid in the sale and issuance of the bonds.

(d) Other costs, fees and expenses incurred or reasonably related to the issuance and sale of the bonds.

3. "Bond related obligation" means an agreement or contractual relationship between the board and a bank, trust company, insurance company, surety bonding company, pension fund or other financial institution providing increased credit on or security for the bonds or liquidity for secondary market transactions.

4. "Bonds" means bonds of the board issued pursuant to this article.