Arizona § 48-2791 Proposal to destroy unsold bonds; call for election; destruction of bonds

Arizona Statutes

§ 48-2791 — Proposal to destroy unsold bonds; call for election; destruction of bonds

Arizona § 48-2791

Title 48Arizona Revised Statutes

Ch. 18DRAINAGE AND FLOOD PROTECTION DISTRICTS

Art. 9Destruction of Unsold Bonds or Reduction of Bonded Indebtedness

This text of Arizona § 48-2791 (Proposal to destroy unsold bonds; call for election; destruction 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. § 48-2791 (2026).

Text

When there remains in the possession of the board of directors after completion of its drainage system and payment of all demands against the district, any bonds authorized to be issued by the district but not sold and not necessary to be sold to raise funds for the use of the district, the board of directors may call a special election for the purpose of voting upon a proposal to destroy such unsold bonds, or so many of them as may be deemed advisable, or may submit the proposal at a general election.

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When there remains in the possession of the board of directors after completion of its drainage system and payment of all demands against the district, any bonds authorized to be issued by the district but not sold and not necessary to be sold to raise funds for the use of the district, the board of directors may call a special election for the purpose of voting upon a proposal to destroy such unsold bonds, or so many of them as may be deemed advisable, or may submit the proposal at a general election.