Arizona § 41-2253 - Powers and duties of authority
Full text of Arizona Arizona Revised Statutes § 41-2253 — Powers and duties of authority, with citation guidance and answers to common questions.
§ 41-2253. Powers and duties of authority
A. The authority is a body corporate and politic and shall have an official seal that is judicially noticed. The authority may sue and be sued, contract and acquire, hold, operate and dispose of property as necessary to carry out its responsibilities under this article.
B. The authority, through its board, may:
1. Issue bonds to provide financial assistance to political subdivisions, special districts and Indian tribes for acquiring, constructing, improving or equipping infrastructure or for refinancing outstanding bonds or other obligations of the political subdivisions, special districts or Indian tribes that were issued to acquire, construct, improve or equip infrastructure. The bonds shall be in the name of the authority.
2. Provide financial assistance to political subdivisions, special districts and Indian tribes to finance or refinance infrastructure projects.
3. Guarantee debt obligations of political subdivisions, special districts and Indian tribes that are issued to finance or refinance infrastructure projects.
4. Provide technical assistance or short-term assistance to political subdivisions, special districts, Indian tribes and tribal subdivisions.
5. Apply for, accept and administer grants and other monetary assistance from the United States government and from other public and private sources to carry out its responsibilities under this article.
6. Hire professional assistance as needed to carry out this article.
C. The board shall:
1. Approve all policies and procedures of the authority.
2. Approve which projects receive technical and financial assistance.
3. Approve loan repayment agreements entered into with political subdivisions, special districts and Indian tribes.
D. The authority may impose administrative fees and penalties that are necessary to recover the costs incurred in connection with entering into or enforcing a loan repayment agreement or providing financial or technical assistance.
E. The board shall deposit, pursuant to sections 35-146 and 35-147, any monies received pursuant to subsection B, paragraph 5 of this section in the fund.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 41-2253
What does Arizona Revised Statutes § 41-2253 cover?
Section 41-2253 ("Powers and duties of authority") 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 § 41-2253?
A common citation format is "Arizona Revised Statutes § 41-2253" (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 § 41-2253 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.