Section 48-609.01 - Special provisions pertaining to loan agreementsA. Each municipality that has entered into, or enters into, a loan agreement with the water infrastructure finance authority of Arizona pursuant to section 48-622, if the municipality adopts an ordinance for collection of assessments by taxation pursuant to section 48-608, shall remain contingently liable for all amounts to be paid pursuant to the loan agreement.B. To implement contingent liability the municipality, no later than ten days before it is required to pay any amounts under a loan agreement from special assessments, shall transfer from its general fund to the county treasurer an amount equal to any then due and unpaid special assessments securing a loan agreement being collected pursuant to section 48-608. The municipality shall determine if the special assessments are delinquent. If, due to the timing of collections made pursuant to section 48-608, the municipality is unable to pay any amounts due on a loan agreement, the municipality shall advance the amounts from its general fund and reimburse itself from later special assessment collections that are not needed to make payments on the loan agreement.C. The payment by the municipality to the county treasurer pursuant to subsection B of this section shall not satisfy the amount of taxes due but shall operate as an assignment of all rights to taxes collected thereafter, including penalties and interest, to the municipality, and the taxes shall remain subject to collection in the same manner as all other general taxes. On the payment of taxes or sale of the property assessed, the county treasurer shall return the portion paid by the municipality, plus a pro rata share of all penalties and interest to reimburse amounts paid from the municipality's general fund.D. The municipality may also enforce all delinquent assessments securing a loan agreement through the summary sale provisions of title 35, chapter 3, article 4.1 and may refund the special assessments in the manner provided in title 35, chapter 3, article 4.