AZ SB1347

Allows community facilities districts to enter into written agreements with landowners regarding assessment allocation if land is subdivided, with collection of installments paid to the landowner until bonds are issued.

Permits districts to establish reserve funds and additional similar funds from bond proceeds or increased annual installment collections to cover principal and interest fund deficits or final bond maturities.

Authorizes cities and county treasurers to enter into agreements for county collection of special assessments with compensation for directly related collection expenses included in the assessment levy.

Allows municipalities to pay from reserve and additional similar funds before using general funds when property is struck off to the municipality or when making good on deficiencies in special assessment collections.