The board of directors or other officers of the district shall not incur any debt or liability, either by issuing bonds or otherwise, in excess of the express provisions of this chapter. Any debt or liability incurred in excess of such limitation shall be absolutely void.
A.R.S. § 48-2995
Limitation on power of board to incur district indebtedness
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.