Arizona § 3-1009 - Power to secure bonds
Full text of Arizona Arizona Revised Statutes § 3-1009 — Power to secure bonds, with citation guidance and answers to common questions.
§ 3-1009. Power to secure bonds
The Arizona exposition and state fair board, in connection with the issuance of bonds and in order to secure the payment of the bonds and the interest thereon, shall have power by resolution:
1. To fix and maintain fees, rentals and other charges of stalls, pens, stables and rental of other buildings as may be on the fair grounds; provided, however, that no fee shall be charged for exhibits during the state fair of agricultural, dairy, horticultural, culinary, apiary and handwork products of exhibitors at the state fair, unless the same be for sale.
2. To provide that the bonds issued hereunder may be secured by a first, exclusive and closed lien on the income and revenues derived from, and shall be payable from, fees, rentals and other charges as set out in the preceding paragraph.
3. To covenant with or for the benefit of the holder or holders of bonds issued hereunder, that so long as any of the bonds remain outstanding and unpaid, the Arizona exposition and state fair board will prescribe service charges, fees and rentals, and will revise the same when necessary so that the project for which the bonds are issued shall always remain self-supporting, with revenues sufficient:
(a) To pay when due all bonds and interest thereon.
(b) To provide for all expenses of operation, maintenance, expansion and replacement of facilities.
(c) To provide reasonable reserves for such purposes.
Frequently Asked Questions About Arizona § 3-1009
What does Arizona Revised Statutes § 3-1009 cover?
Section 3-1009 ("Power to secure bonds") 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 § 3-1009?
A common citation format is "Arizona Revised Statutes § 3-1009" (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 § 3-1009 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.