42-11103. Exemption for government bonded indebtedness; application of procedural provisions A. Public debts as evidenced by the bonds of this state, counties, municipalities and other political subdivisions are exempt from taxation. B. Article 4 of this chapter does not apply to the exemption from taxation for public debts that are evidenced by bonds.
Arizona Legal Code
§ 42.11103
Source: https://www.azleg.gov/ars/42/11103.htm· Version 2026