Arizona § 48-2474 Validity of bonds; nonliability of officers and directors

Arizona Statutes

§ 48-2474 — Validity of bonds; nonliability of officers and directors

Arizona § 48-2474

Title 48Arizona Revised Statutes

Ch. 17AGRICULTURAL IMPROVEMENT DISTRICTS

Art. 7Revenue Bonds

This text of Arizona § 48-2474 (Validity of bonds; nonliability of officers and directors) 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. § 48-2474 (2026).

Text

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

B.The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the construction, improvement, reconstruction, acquisition or extension of the undertaking financed by the bonds or acquired in connection therewith.

C.No member of the board of directors or officer of the district issuing bonds is liable personally on such bonds.

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

B. The validity of the bonds shall not be dependent on nor affected by the validity or regularity of any proceedings relating to the construction, improvement, reconstruction, acquisition or extension of the undertaking financed by the bonds or acquired in connection therewith.

C. No member of the board of directors or officer of the district issuing bonds is liable personally on such bonds.