48-6202. Formation of district
(Conditionally Rpld.)
A. The governing bodies of a city with a population of more than one million persons and a county with a population of more than one hundred twenty-five thousand persons and in which the city is located entirely in that county may establish a theme park district as provided by this chapter. For the purposes of this subsection, the population shall be determined according to the most recent population estimate data produced by the office of economic opportunity at the time the district is established. The district may include theme park sites in only the city establishing the district. The city and the county shall establish the geographical boundaries of the district, which shall include only the sites of the theme parks and which shall consist of only contiguous property. The district may be established with a single theme park site. Any additional sites may be added after the district is initially established and the geographical boundaries of the district may be revised after it is initially established, except that the district shall continue to consist of only contiguous property in that city.
B. The district is a corporate and political body and, except as otherwise limited, modified or provided by this chapter, has all of the rights, powers and immunities of municipal corporations.
C. The district is considered to be a tax levying public improvement district for the purposes of article XIII, section 7, Constitution of Arizona.
D. The district is regarded as performing a governmental function in carrying out the purposes of this chapter. The property acquired, leased or constructed by the district, the activities of the district in maintaining and caring for the property and the monies derived by the district from operating the property are exempt from state and local income and property taxation. A hotel building that is located in a district that is less than twenty acres and contains less than one million square feet of building or other improvements is not exempt from state and local property taxation. At the conclusion of the lease, that hotel building shall be returned to the lessee under the lease with the district and if subject to a ground lease with a tax exempt entity, the hotel building and other improvements are subject to state and local property taxation as possessory improvements on government property as defined in section 42-15301.