48-4575. Unlawful interest in real property by board member or employee; violation; classification A. A member of the board or an employee of the district shall not have any direct or indirect financial interest in any real property for water replenishment needs as defined in section 48-4541, paragraph 3 purchased with monies derived from issuing bonds. B. A person who violates this section is guilty of a class 2 misdemeanor.
Arizona Legal Code