28-7677 - Arizona Statutes

28-7677. Acceleration of right-of-way acquisition, design or construction of eligible projects A. If the department enters into an agreement with a political subdivision or Indian tribe for accelerated right-of-way acquisition, design or construction of an eligible project, the agreement may provide for the advancing to the department by the political subdivision or Indian tribe of monies needed for the right-of-way acquisition, design or construction and for the repayment by the department of the advanced monies, with interest, if any, at the agreed on rate, to the political subdivision or Indian tribe. The political subdivision or Indian tribe may make an advance from any available monies, and any advance constitutes an eligible investment for sinking funds or other funds of the political subdivision or Indian tribe. B. The department shall repay the political subdivision or Indian tribe for an advance, together with interest, if any, on the advance at the agreed on rate, from monies available to the department for the eligible project pursuant to a mutually agreed on repayment schedule. The period for repayment shall not be more than five years from the date of the advance. Notwithstanding chapters 17 and 18 of this title, an advance, together with interest on the advance, may be repaid by the department from monies in a regional area road fund construction account and from revenues distributed pursuant to section 28-6538, subsection B.