Arizona · FIN.13

Facilities revenue bonds are distinguished from state general obligation debt

Constitutional

Descriptive

Active

Although the Arizona Constitution limits state general obligation debt, school facilities revenue bonds issued under A.R.S. §§ 41-5751 and 41-5781 are not treated as general obligation debt because repayment relies on non-tax revenues rather than the state's general taxing power.

State: Arizona
Topic: FIN.13 Debt Limits & Voter Approval

Evidence & sources

NCSI profile: Arizona State Roles and Responsibilities for PK-12 Public School Facilities (2025), printed p. 27
Legal sources: Ariz. Const. art. IX, § 8 — Arizona Constitution Article IX, Section 8 (State Constitution, primary)
A.R.S. § 41-5751 — Arizona Revised Statutes § 41-5751 (Statute / Code)
A.R.S. § 41-5781 — Arizona Revised Statutes § 41-5781 (Statute / Code)
Verification: Profile Only

Prototype research tool. Records are normalized from NCSI state profiles and have not been verified against current statutes or regulations. This is not legal advice — consult primary legal sources for current requirements.