Arizona § 28-7616 - Use of proceeds
Full text of Arizona Arizona Revised Statutes § 28-7616 — Use of proceeds, with citation guidance and answers to common questions.
§ 28-7616. Use of proceeds
The proceeds from the sale of the notes shall be used by the director for payment of any of the following:
1. Costs and expenses incurred in the construction or acquisition of the project for which the grant or grants are being made.
2. Legal and financial costs and expenses incurred in issuing and administering the notes.
3. Costs for which the director will be entitled to receive reimbursement pursuant to the grant agreement.
4. If authorized by the board, payment of interest to accrue on the notes during their life.
5. Payment of the principal, premium or interest on other obligations, all or a portion of the proceeds of which were or are to be applied to the financing of the project to which the grant agreement relates.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 28-7616
What does Arizona Revised Statutes § 28-7616 cover?
Section 28-7616 ("Use of proceeds") 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 § 28-7616?
A common citation format is "Arizona Revised Statutes § 28-7616" (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 § 28-7616 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.