48-3199 - Arizona Statutes

48-3199. Application of article; other methods of financing; prohibition A. The provisions of sections 48-2985 and 48-2986 shall apply only to the use of bonds or the expenditure of monies derived from the sale of bonds issued for major purposes in accordance with the provisions of sections 48-3190 through 48-3194, and no provision of this article relating to authorization, issuance, delivery and sale of bonds shall preclude the financing of district needs and purposes by other means under any express or implied power and authority granted to irrigation districts. B. No district formed under this chapter subsequent to January 1, 1970 shall have the power to authorize, issue, deliver or sell any bonds to finance wholly or partly the formation or development of new cities or towns. Nothing contained in this subsection is intended to or shall be construed to authorize additional powers for or limit present powers of districts created prior to January 1, 1970.