Arizona § 35-493 Collection and payment of bond through bank or trust company; effect

Arizona Statutes

§ 35-493 — Collection and payment of bond through bank or trust company; effect

Arizona § 35-493

Title 35Arizona Revised Statutes

Ch. 3PUBLIC INDEBTEDNESS

Art. 5Registration and Payment of Bonds

This text of Arizona § 35-493 (Collection and payment of bond through bank or trust company; effect) 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. § 35-493 (2026).

Text

The proceedings authorizing any bond may permit the registered holder of the bond to authorize any bank or trust company authorized to do business in this state to present the bond to the treasurer, finance director or paying agent of the issuer for payment of the principal thereof, or, if the obligor has a fiscal agent without this state, the obligor may authorize any bank or trust company doing business where such agent is located to make the presentment. Payment to such bank or trust company constitutes payment and satisfaction of the indebtedness.

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The proceedings authorizing any bond may permit the registered holder of the bond to authorize any bank or trust company authorized to do business in this state to present the bond to the treasurer, finance director or paying agent of the issuer for payment of the principal thereof, or, if the obligor has a fiscal agent without this state, the obligor may authorize any bank or trust company doing business where such agent is located to make the presentment. Payment to such bank or trust company constitutes payment and satisfaction of the indebtedness.