Ariz. Rev. Stat. » Title 35
Arizona Revised Statutes

Ariz. Rev. Stat. § 35-451 (2026)

Local debt limit; increase in limitation; authority to issue bonds; definitions

✓ current as of May 2026
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A. The aggregate indebtedness of a county, city, town or similar municipal corporation may be increased above six percent of the net assessed value of the full cash value of the property in such a political subdivision only as provided in this article.

B. A multi-county water conservation district may become indebted and issue bonds in the manner provided in this article.

C. Bonds may be issued under this article for any lawful or necessary purpose.

D. For the purposes of this section, "full cash value" and "net assessed value" have the same meanings prescribed in section 42-11001.

 

Notes of Decisions
Cited in 3 cases, 1967–2011 · leading case: Webb v. Dixon, 455 P.2d 447 (Ariz. 1969).
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Webb v. Dixon, 455 P.2d 447 (Ariz. 1969). “” The election was contested on the ground that by not using registration lists, and merely requiring the voters to sign an affidavit similar to the one in the instant case, the board had failed to comply with the statue.”
Contest of a Certain Special Election v. Special Road Districts Nos. 9, 10, 11 & 12, 659 P.2d 1294 (Ariz. Ct. App. 2011). · cites it 4× “When bonds are sought to be issued pursuant to A.R.S. §§ 35-451, et seq., a statement of purposes is required.”
Millet v. Bd. of Supervisors of Maricopa Cnty., 429 P.2d 508 (Ariz. Ct. App. 1967). “, Section 35-451 et seq., with respect to the-election.”
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