Arizona § 48-2849 Issuance of improvement bonds; fund for payment of bonds

Arizona Statutes

§ 48-2849 — Issuance of improvement bonds; fund for payment of bonds

Arizona § 48-2849

Title 48Arizona Revised Statutes

Ch. 18DRAINAGE AND FLOOD PROTECTION DISTRICTS

Art. 11Financing Flood Protection Facilities

This text of Arizona § 48-2849 (Issuance of improvement bonds; fund for 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. § 48-2849 (2026).

Text

A.The board may determine that improvement bonds shall be issued for the cost and expense of the flood protection facility. The bonds shall be issued in the name of the flood protection district but shall be made payable only from the special fund collected by the flood protection district from special assessments levied and assessed on the lots, acres or parcels fronting on the flood protection facility or, if an assessment district has been created by the resolution of intention for the work, on the lots, acres or parcels included in the assessment district.

B.All amounts collected from the special assessments shall be placed in the special fund and shall not be used for any purpose other than payment of the principal and interest of the bonds.

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A. The board may determine that improvement bonds shall be issued for the cost and expense of the flood protection facility. The bonds shall be issued in the name of the flood protection district but shall be made payable only from the special fund collected by the flood protection district from special assessments levied and assessed on the lots, acres or parcels fronting on the flood protection facility or, if an assessment district has been created by the resolution of intention for the work, on the lots, acres or parcels included in the assessment district.

B. All amounts collected from the special assessments shall be placed in the special fund and shall not be used for any purpose other than payment of the principal and interest of the bonds.