Arizona § 35-426 Application of proceeds to redemption of indebtedness; notice to redeem

Arizona Statutes

§ 35-426 — Application of proceeds to redemption of indebtedness; notice to redeem

Arizona·Title 35 Arizona Revised Statutes·Ch. 3 PUBLIC INDEBTEDNESS·Art. 2 State Indebtedness Bonds

A.The state treasurer shall apply monies received to redeem the indebtedness of the bonds issued and shall give notice in the same manner as for paying and redeeming state warrants, checks and substitute checks, and electronic funds transfer vouchers. After the state treasurer redeems such indebtedness, interest on all such indebtedness due and outstanding shall cease.

B.Before such indebtedness is paid, the director of the department of administration shall endorse on each certificate the amount due thereon, and write across the face of each the date of its surrender and the name of the person surrendering, and shall keep a record thereof.

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A. The state treasurer shall apply monies received to redeem the indebtedness of the bonds issued and shall give notice in the same manner as for paying and redeeming state warrants, checks and substitute checks, and electronic funds transfer vouchers. After the state treasurer redeems such indebtedness, interest on all such indebtedness due and outstanding shall cease.

B. Before such indebtedness is paid, the director of the department of administration shall endorse on each certificate the amount due thereon, and write across the face of each the date of its surrender and the name of the person surrendering, and shall keep a record thereof.

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