Arizona § 48-2445 Lien of bonds; payment of bonds

Arizona Statutes

§ 48-2445 — Lien of bonds; payment of bonds

Arizona § 48-2445

Title 48Arizona Revised Statutes

Ch. 17AGRICULTURAL IMPROVEMENT DISTRICTS

Art. 6District Bonds

This text of Arizona § 48-2445 (Lien of bonds; payment 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. § 48-2445 (2026).

Text

A.All bonds issued under the provisions of this chapter shall be a lien upon the real property included in the district, and such bonds and the interest thereon shall be payable from the levy of taxes upon the real property included in the district. All the real property in the district shall be and remain liable to taxation for such payments, but whenever any such bonds are additionally secured by a pledge of the income, revenue and receipts of the district as provided in this chapter, the board shall abate the levy of any tax herein required for the current year in which the income, revenue and receipts to be received by the district, or on hand for that purpose, will be sufficient to make the principal and interest payments due upon such bonds.

B.This section shall not be construed a

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A. All bonds issued under the provisions of this chapter shall be a lien upon the real property included in the district, and such bonds and the interest thereon shall be payable from the levy of taxes upon the real property included in the district. All the real property in the district shall be and remain liable to taxation for such payments, but whenever any such bonds are additionally secured by a pledge of the income, revenue and receipts of the district as provided in this chapter, the board shall abate the levy of any tax herein required for the current year in which the income, revenue and receipts to be received by the district, or on hand for that purpose, will be sufficient to make the principal and interest payments due upon such bonds.

B. This section shall not be construed as creating, or intended to create, any lien on or to authorize any tax against any state, school or university lands included within a district.