41-4506 - Arizona Statutes

41-4506. Cost of operation and administration of authority; taxation A. This state is not responsible for any costs incurred by the authority, including compensation for board members or employees, other operational or administrative costs, any costs of acquiring, operating or maintaining any project or costs incurred in the issuance or payment of bonds. B. All costs of the authority shall be paid from bond proceeds or from revenues, receipts or other monies of the authority. C. The authority, its income and property, all bonds issued by it and the interest on the bonds are exempt from all taxation by this state or any political subdivision of this state.