Arizona § 40-1134 Validity of bonds

Arizona Statutes

§ 40-1134 — Validity of bonds

Arizona § 40-1134

Title 40Arizona Revised Statutes

Ch. 6URBAN MASS TRANSPORTATION SYSTEMS

Art. 4Financing for Metropolitan Public Transit Authority

This text of Arizona § 40-1134 (Validity of bonds) 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. § 40-1134 (2026).

Text

A.Bonds issued under this article and bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers of the board.

B.The validity of the bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the construction, acquisition, improvement, reconstruction or extension of the facilities of the authority from the proceeds of the sale of the bonds or the proceedings taken in connection therewith.

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A. Bonds issued under this article and bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers of the board.

B. The validity of the bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the construction, acquisition, improvement, reconstruction or extension of the facilities of the authority from the proceeds of the sale of the bonds or the proceedings taken in connection therewith.