SB1194 Summary

• Amends Arizona Revised Statutes sections 30-222, 30-226, 30-227, and 48-101 relating to revenue bonds issued by the Arizona power authority.

• Repeals sections 30-223, 30-224, and 30-225, eliminating prior approval requirements for bond issues by the state certification board.

• Allows bonds to be sold at premium, discount, or par value (previously restricted to not less than par), and establishes that bond proceeds are controlled solely by the authority after board approval.

• Adds section 48-102 establishing procedures for state certification board findings on bond applications, requiring decisions based on evidence and allowing rejected applications to be resubmitted in amended form.

• Designates the governor as an ex officio board member and clarifies board procedures for meetings, quorum requirements, and examination scope limited to submitted application materials.