Arizona § 48-2758 Lien of bonds; payment of bonds

Arizona Statutes

§ 48-2758 — Lien of bonds; payment of bonds

Arizona·Title 48 Arizona Revised Statutes·Ch. 18 DRAINAGE AND FLOOD PROTECTION DISTRICTS·Art. 7 District Bonds

A.All bonds issued under the provisions of this article and article 8 of this chapter shall be a lien upon the real property included in the district, and the lien of the bonds of any issue shall be a preferred lien to that of any subsequent issue.

B.The bonds and the interest thereon shall be paid from revenues derived by assessments as provided by article 5 of this chapter upon the real property included in the district, and all the real property in the district shall be and remain liable for assessment for payment thereof.

C.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.

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A. All bonds issued under the provisions of this article and article 8 of this chapter shall be a lien upon the real property included in the district, and the lien of the bonds of any issue shall be a preferred lien to that of any subsequent issue.

B. The bonds and the interest thereon shall be paid from revenues derived by assessments as provided by article 5 of this chapter upon the real property included in the district, and all the real property in the district shall be and remain liable for assessment for payment thereof.

C. 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.

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