Arizona § 48-3226 Payment of matured refunding bonds or coupons; cancellation of redeemed bonds

Arizona Statutes

§ 48-3226 — Payment of matured refunding bonds or coupons; cancellation of redeemed bonds

Arizona § 48-3226

Title 48Arizona Revised Statutes

Ch. 19IRRIGATION AND WATER CONSERVATION DISTRICTS

Art. 11Refunding District Indebtedness

This text of Arizona § 48-3226 (Payment of matured refunding bonds or coupons; cancellation of redeemed 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. § 48-3226 (2026).

Text

A.When any refunding bonds mature the district treasurer shall give notice for four weeks in a newspaper published in the county in which the district is located of the intention to redeem such bonds, stating the amount thereof. The redemption shall thereupon be made and all such bonds shall cease to draw interest at the expiration of four weeks after the date of notice. If the bonds called for redemption are not presented within three months from the date of notice, the treasurer shall apply the money to the redemption of bonds next in the order of the number of their issue.

B.The interest coupons when due and payable shall be delivered to the treasurer who shall pay the interest and write the word "cancelled" across the face thereof, which shall be the treasurer's receipt for their pa

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A. When any refunding bonds mature the district treasurer shall give notice for four weeks in a newspaper published in the county in which the district is located of the intention to redeem such bonds, stating the amount thereof. The redemption shall thereupon be made and all such bonds shall cease to draw interest at the expiration of four weeks after the date of notice. If the bonds called for redemption are not presented within three months from the date of notice, the treasurer shall apply the money to the redemption of bonds next in the order of the number of their issue.

B. The interest coupons when due and payable shall be delivered to the treasurer who shall pay the interest and write the word "cancelled" across the face thereof, which shall be the treasurer's receipt for their payment. When any bonds are redeemed the treasurer shall in like manner mark them "cancelled" on the face thereof, over his signature, and deliver them to the secretary of the district, taking his receipt therefor, and the secretary shall file them in his office and report that they have been filed to the directors.