The rights of way, ditches, drains, conduits, flumes, pipe-lines, dams, reservoirs, pumping-plants, water and other property of like character belonging to any drainage district, as well as the bonds or other evidences of indebtedness of the district, shall not be taxed for state, county or municipal purposes.
A.R.S. § 48-2717
Exemption from taxation of bonds and certain property of district
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.