Arizona § 48-2441 - Purposes for which bonds may be issued

§ 48-2441. Purposes for which bonds may be issued

As soon as practicable after the organization of an agricultural improvement district, or at any time thereafter when funds available have been exhausted and it is necessary to raise additional funds for such purposes, the board of directors shall estimate and determine the amount of money necessary to be raised for the following purposes:

1. To acquire property or property rights necessary or useful for the district, or for the construction, enlargement, extension, improvement, completion or renewal of any irrigation or flood control works, structures and appliances necessary for the development, storage, regulation, control or distribution of water for the irrigation of lands within the district, for the drainage of lands in the district or for flood control purposes.

2. To construct power plants, power transmission lines, lines of communication and appliances incident thereto, including rights-of-way, property and property rights necessary therefor, intended or designed for use in connection with the development, storage, regulation, control and distribution of water for the irrigation of lands in the district, or for the drainage thereof.

3. To provide, under and by means of any contract, agreement or arrangement authorized by this chapter, for the development, storage, regulation, control, delivery and distribution of water for irrigation of lands within the district, or drainage of water from such lands, or for disposal of such drainage water, or for the construction, extension, renewal, replacement, improvement, enlargement, maintenance, operation and control of irrigation or drainage works within the district, used or useful for the irrigation or drainage of any of the lands in the district, whether or not such works are actually owned by the district.

4. To provide power or any means of communication for the use of owners or occupants of land within the district.

5. To reduce the cost of irrigation, drainage and power to the owners of the lands in the district by the sale of surplus water or power produced, owned or controlled by the district, and the construction, maintenance, extension, replacement, financing and refinancing of the works useful for such purpose.

6. To finance or refinance as its own obligation all or any part of the debts incurred or proposed to be incurred by any public or private agency in the construction, maintenance, improvement or replacement of the structures and equipment necessary or useful for the accomplishment of any of the purposes set forth in this section.

7. To carry out the provisions of this chapter not otherwise provided by this section.