An incorporated city or town, in addition to other powers conferred upon it by law, may borrow money and issue bonds for the purpose of improvement, construction, reconstruction, acquisition of rights of way or maintenance of municipal streets and highways.
A.R.S. § 48-681
Borrowing power of cities and towns
Applied in 1 court decision — leading case City of Tucson v. Pima County (1997)
Most recently applied in City of Tucson v. Pima County (October 1997)
Official source: Arizona State Legislature. Reproduced from public-domain Arizona statutes; confirm against the official source for the current text. Not legal advice.