# A.R.S. § 30-1008: 30-1008 Public power entity as servicer; transition billing services tariffs; AAA rating

> Arizona · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1008

## Section

- **Citation:** A.R.S. § 30-1008
- **Heading:** 30-1008 Public power entity as servicer; transition billing services tariffs; AAA rating
- **Jurisdiction:** Arizona
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Arizona Code / Title 30 / Chapter 8 / Article 1 / Section 1008

## Text

30-1008. Public power entity as servicer; transition billing services tariffs; AAA rating

A. If a servicer is a public power entity, the public power entity shall use its resources and systems to perform the duties of a servicer under a transition billing services tariff.

B. If a servicer collects payment made by a customer for financing charges, whether under a transition billing services tariff or otherwise, the monies collected are financing revenues when the monies are paid by the customer, and the servicer has no right, title or interest in the revenues other than as an agent for the qualified special purpose entity.  If a customer pays only a portion of the charges stated on a bill provided by a servicer that includes financing charges, the partial payment shall be first applied to paying the financing charges.

C. If a servicer fails to make any required payment of financing revenues to a qualified special purpose entity or fails to fulfill its servicing obligations under an applicable transition billing services tariff, the qualified special purpose entity or the holders of the transition bonds may request that the superior court order the sequestration and payment of the financing revenues for the benefit of any financing parties or their assignees and may request any other applicable relief.  The order shall remain in full force and effect notwithstanding any bankruptcy, reorganization or other insolvency or receivership proceedings of the servicer or the qualified special purpose entity.

D. If this state, through the governing body of the public power entity or otherwise pursuant to this chapter, allows the billing, collection and remittance by a third party of sums that would otherwise be billed, collected or remitted by a public power entity that acts as a servicer, the authorization must be consistent with the rating agencies' requirements that are necessary for the transition bonds to receive and maintain an AAA or equivalent rating.

## Nearby sections

- [A.R.S. § 30-1001 30-1001 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1001.md)
- [A.R.S. § 30-1002 30-1002 Statement of public policy](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1002.md)
- [A.R.S. § 30-1003 30-1003 Securitization transactions; public meeting; notice; securitization proposal; financing resolution adoption](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1003.md)
- [A.R.S. § 30-1004 30-1004 Transition property; property rights; default on transition bonds](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1004.md)
- [A.R.S. § 30-1005 30-1005 Transition bonds; issuance; authority of qualified special purpose entity; reimbursement of costs](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1005.md)
- [A.R.S. § 30-1006 30-1006 Transition property; security interest; lien; priority](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1006.md)
- [A.R.S. § 30-1007 30-1007 Financing charges; true-up mechanism; civil action](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1007.md)
- [A.R.S. § 30-1008 30-1008 Public power entity as servicer; transition billing services tariffs; AAA rating](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1008.md)
- [A.R.S. § 30-1009 30-1009 Transition bonds; irrevocability; public policy; noncompliance](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1009.md)
- [A.R.S. § 30-1010 30-1010 Financing resolution; application for rehearing; judicial review](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1010.md)
- [A.R.S. § 30-1011 30-1011 Fees and taxes](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1011.md)
- [A.R.S. § 30-1012 30-1012 Transition bonds; public debt prohibition](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1012.md)
- [A.R.S. § 30-1013 30-1013 Transition bonds; legal investments](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1013.md)
- [A.R.S. § 30-1014 30-1014 Obligations of successor to public power entity](https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1014.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_AZ_T30_C8_A1_S1008. Check the current official text before relying on it. Not legal advice.