41-5356. Duties of board; advisory board; annual report; board termination

A. The board shall:

1. Establish an industrial development authority under title 35, chapter 5 and, notwithstanding the requirements of section 35-705, serve as the board of the industrial development authority.

2. Serve as the board of the greater Arizona development authority and have all powers and authority to take action on behalf of the greater Arizona development authority pursuant to chapter 18 of this title.

3. Serve as the board of the water infrastructure finance authority of Arizona and have all powers and authority to take action pursuant to title 49, chapter 8 regarding water infrastructure financing.

4. Approve the authority's budget.

5. Establish a water and infrastructure finance authority advisory board to advise the board of directors of the authority consisting of relevant state agency representatives and the following additional members:

(a) One member who represents a public water system that serves five hundred or more connections.

(b) One member who represents a public water system that serves less than five hundred connections.

(c) One member who represents a sanitary district in a county with a population of less than five hundred thousand persons.

(d) One member who represents a sanitary district in a county with a population of five hundred thousand or more persons.

(e) One member who represents a city or town with a population of less than fifty thousand persons.

(f) One member who represents a city or town with a population of fifty thousand or more persons.

(g) One member who represents a county with a population of five hundred thousand or more persons.

B. On or before October 1 of each year, the industrial development authority shall submit a report to the president of the senate, the speaker of the house of representatives and the directors of the joint legislative budget committee and the governor's office of strategic planning and budgeting regarding the authority's revenues, expenditures and program activity for the previous fiscal year.

C. The board established pursuant to subsection A, paragraph 5 of this section ends on July 1, 2024 pursuant to section 41-3103.