| As Treasurer and Banker this office keeps track of each political sub-division´s budget. We can not purchase the checks they have written if they are spending over their adopted budget amounts.
We establish a line of credit for each political sub-division. Extensive monitoring is required and our servicing bank can grant the line of credit or can refuse same. Lines of credit have many restrictions as outlined in the Arizona Revised Statutes and by the Arizona banking regulations.
Prior to June 30th each year all lines of credit (a loan from the servicing bank) must be paid in full.
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