Arizona § 35-428 Redemption of bonds; notice; record of bonds redeemed

Arizona Statutes

§ 35-428 — Redemption of bonds; notice; record of bonds redeemed

Arizona § 35-428

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 2State Indebtedness Bonds

This text of Arizona § 35-428 (Redemption of bonds; notice; record of bonds redeemed) 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. § 35-428 (2026).

Text

A.When, after the expiration of fifteen years from the date of issuance of any bonds, there is in the redemption fund a surplus of ten thousand dollars or more, the state treasurer shall advertise, in the same manner as required for bids for the sale of bonds, stating the amount of money in the redemption fund, and that such amount has been set apart to pay and discharge a certain number of bonds, naming them by number in the order of their issuance. A copy of such advertisement shall be mailed to each bank or trust company at which the interest on the bonds is payable. If the bonds numbered in the advertisements are not presented for payment and cancellation at the expiration of such publication, the fund shall remain in the treasury to discharge the bonds when presented, but such bonds

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A. When, after the expiration of fifteen years from the date of issuance of any bonds, there is in the redemption fund a surplus of ten thousand dollars or more, the state treasurer shall advertise, in the same manner as required for bids for the sale of bonds, stating the amount of money in the redemption fund, and that such amount has been set apart to pay and discharge a certain number of bonds, naming them by number in the order of their issuance. A copy of such advertisement shall be mailed to each bank or trust company at which the interest on the bonds is payable. If the bonds numbered in the advertisements are not presented for payment and cancellation at the expiration of such publication, the fund shall remain in the treasury to discharge the bonds when presented, but such bonds shall draw no interest after expiration of the publication. Before such bonds are paid they shall be presented to the director of the department of administration, who shall endorse on each bond the amount due thereon, and shall write across the face of each bond the date of its surrender and the name of the person surrendering the bond.

B. The director of the department of administration shall keep a record of all bonds issued and disposed of by the state treasurer, showing for each bond the number, rate of interest, date, amount of sale, when, where and to whom payable, and if exchanged, for what, and when presented for redemption the date, amount due thereon, and person surrendering.