41-3016.12 - Arizona Statutes

41-3016.12. Arizona power authority; conditional termination July 1, 2016 A. The Arizona power authority terminates on July 1, 2016, and title 30, chapter 1, article 1 is repealed on January 1, 2017, if the authority: 1. Has no outstanding contractual obligations with the United States or any United States agency. 2. Has no outstanding debts or obligations that were issued to finance the cost of the Hoover power plant modifications project or the Hoover power plant uprating project. 3. Has otherwise provided for paying or retiring these debts or obligations. B. If any contractual debt or obligation listed in subsection A exists and no satisfactory provision has been made to pay or retire the debt or obligation, the authority, and title 30, chapter 1, article 1, shall continue in existence until the debt or obligation is fully satisfied.