Arizona § 41-5808 Investment of monies in impact aid revenue bond building fund

Arizona Statutes

§ 41-5808 — Investment of monies in impact aid revenue bond building fund

Arizona § 41-5808

Title 41Arizona Revised Statutes

Ch. 56SCHOOL CAPITAL FINANCE

Art. 8Impact Aid Revenue Bonds

This text of Arizona § 41-5808 (Investment of monies in impact aid revenue bond building fund) 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. § 41-5808 (2026).

Text

A.If monies in the impact aid revenue bond building fund are not required to be used for a period of ten days or more, the governing board may authorize their investment.

B.The order directing an investment shall state a specified time when the proceeds from the sale of the bonds will be used. The governing board shall make the investment in such a way as to mature at the specified date.

C.All monies earned as interest or otherwise derived from the investment of the monies in the impact aid revenue bond building fund shall be credited to the impact aid revenue bond debt service fund.

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A. If monies in the impact aid revenue bond building fund are not required to be used for a period of ten days or more, the governing board may authorize their investment.

B. The order directing an investment shall state a specified time when the proceeds from the sale of the bonds will be used. The governing board shall make the investment in such a way as to mature at the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the impact aid revenue bond building fund shall be credited to the impact aid revenue bond debt service fund.