Arizona § 15-1029 Rights of bondholder; additional state tax

Arizona Statutes

§ 15-1029 — Rights of bondholder; additional state tax

Arizona § 15-1029

Title 15Arizona Revised Statutes

Ch. 9SCHOOL DISTRICT BUDGETING AND FINANCIAL ASSISTANCE

Art. 7Bond Issues and Bonded Indebtedness

This text of Arizona § 15-1029 (Rights of bondholder; additional state tax) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 15-1029 (2026).

Text

A.If the board of supervisors fails to make the levy necessary to pay school district bonds or interest coupons at maturity and such bonds or coupons are presented to the county treasurer and payment is refused, the owner may file the bond, together with all unpaid coupons, with the department of administration, taking his receipt therefor. Such bonds and coupons shall be registered with the department of administration.

B.The department of revenue shall add to the tax to be levied by the school district which issued the bonds a sufficient rate to obtain the amount of principal or interest past due prior to the next levy. The tax shall be levied and collected as a part of the school district tax but shall be paid into the state treasury, shall be passed to the special credit of the scho

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A. If the board of supervisors fails to make the levy necessary to pay school district bonds or interest coupons at maturity and such bonds or coupons are presented to the county treasurer and payment is refused, the owner may file the bond, together with all unpaid coupons, with the department of administration, taking his receipt therefor. Such bonds and coupons shall be registered with the department of administration.

B. The department of revenue shall add to the tax to be levied by the school district which issued the bonds a sufficient rate to obtain the amount of principal or interest past due prior to the next levy. The tax shall be levied and collected as a part of the school district tax but shall be paid into the state treasury, shall be passed to the special credit of the school district bond tax and shall, as payments mature, be paid by warrants to the holder of registered obligations as shown by the register in the department of administration until such obligations are fully satisfied and discharged. Any balance then remaining shall be remitted to the general account and credit of the school district.