28-8523 - Arizona Statutes

28-8523. Annual operating budget A. Before June 1 or at an earlier time as may be specified in the agreement described in section 28-8521, the joint powers airport authority's board of directors shall recommend to the members of the airport authority an annual operating budget for the airport authority for the next fiscal year. Before the determination by the airport authority board of directors as to the amount of the budget allocation for each member that may require a levy of taxes, the airport authority board of directors shall take into account all revenues and fees of the airport and other monies legally available to fund the operations of the airport and airport authority. B. The governing bodies of the airport authority's members, including any new members who are admitted pursuant to section 28-8526, shall approve and adopt, in the manner specified in the agreement described in section 28-8521, an operating budget for the airport authority before August 1 or at an earlier time as may be specified in the agreement described in section 28-8521.