News & Events

Governor Brewer has signed House Bill 2202, which extends the maximum number of years that school district leases or lease-purchase agreements can last without voter approval from 5 years to 10 years. She signed the bill on April 11, 2013. It will be effective 90 days after the close of […]

Issuers who have adopted written post-issuance compliance procedures will now receive more favorable treatment from the Internal Revenue Service (IRS) if the bond issue is examined and the issuer enters the IRS Voluntary Closing Agreement Program (VCAP). Under VCAP, issuers may enter into an agreement with the IRS to resolve […]

The purpose of this Memorandum is to summarize the borrowing alternatives available to Arizona community college districts. Under current law, such borrowings are governed by the provisions of the following laws: Title 15, Chapter 12 of the Arizona Revised Statutes (the “Community College Law”); Title 35 of the Arizona Revised […]

In June of last year, we reported to you that a new law would greatly increase the number of transactions that would need to be reported on a Form 1099, beginning in 2012. Those filing requirements were repealed by the Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments […]

Social networking sites, such as Facebook and MySpace, started as online forums for individuals to connect on a social level. Today, however, these kinds of sites are valuable tools used by businesses to market products and services, attract and retain clients, and establish credibility in the marketplace. But, as with […]

The recent passage of the Arizona Medical Marijuana Act means that medical marijuana dispensaries-a budding industry which will ultimately total about126 under the law’s guidelines-will soon sprout on the landscape, along with an as yet-undetermined number of sites for the legal cultivation of the marijuana plant. Just because medical marijuana […]

Arizona employers are already overwhelmed by copious workplace issues, challenges and drama. Recently, an employer’s job became even more complicated with the passage of Proposition 203-the Arizona Medical Marijuana Act (the “Act”). The Act makes it legal in Arizona for individuals to qualify to receive and use marijuana to treat a variety […]

The Internal Revenue Service (IRS) requires that records of tax-exempt bond financings be maintained for as long as the bonds are outstanding, plus three years. In a typical financing of 20 years or more, these records may span the careers of multiple legal counsel, administrators and other members of the […]

If you’ve ever wondered how cell phone towers end up here or there, you have your city’s local zoning codes and federal laws to thank. Most communities have zoning regulations governing where cell towers can be placed and the process an applicant must follow to get cell tower placement approval. […]

1. Is a Borrower Personally Liable After Foreclosure? A borrower is generally personally liable to the lender for a loan including the shortfall, or “deficiency,” created when the unpaid loan balance is more than the bid price/value of the property at a foreclosure auction. However, Arizona has statutory exceptions-commonly called […]