The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
A. Upon approval of the application and withdrawal of the land by the department of the interior, the state land department shall enter into a contract with the applicant containing complete maps and specifications of the proposed project. The contract shall state:
1. The maximum price per acre at which perpetual water rights shall be sold to settlers.
2. The maximum cost per annum for maintenance charges.
3. The price and terms upon which the state is to dispose of the land to settlers.
B. The contract shall provide that the sale to a settler of a tract of land with a permanent water right shall include an interest in the project and any power plants that may be built equal to the proportion that the tract of land purchased by him bears to the entire tract to be reclaimed by the irrigation project, and that upon full payment of the purchase price of the land, capital stock of the corporation, representing the interest, shall be issued and delivered to the settler by the person constructing the project. The price and terms of water rights, maintenance charges, and land, shall be reasonable.
C. The contracting party may provide in the contract with the applicant for the land and permanent water right the amount of the annual water supply, and may provide rules and regulations for the use and distribution of the water, to be approved by the department.
D. The contractor shall make and deliver to the state a bond in a penal sum equal to five per cent of the estimated cost of the project but not exceeding fifty thousand dollars for the faithful performance of the contract.