Arizona § 48-3255 Partial payment of bonds and interest

Arizona Statutes

§ 48-3255 — Partial payment of bonds and interest

Arizona § 48-3255

Title 48Arizona Revised Statutes

Ch. 19IRRIGATION AND WATER CONSERVATION DISTRICTS

Art. 12Insolvency of District

This text of Arizona § 48-3255 (Partial payment of bonds and interest) 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. § 48-3255 (2026).

Text

Upon granting the petition and during the retention of jurisdiction by the committee, if there are in the district treasury at any time funds available for the payment of bonds or interest thereon, but such amount is not sufficient to pay all outstanding bonds, interest coupons, or both, then due, the funds shall be held until they amount to at least twenty per cent of the total due on all outstanding bonds and coupons and shall then be apportioned and paid to the holders of the bonds which are then on deposit with the state treasurer.

Free access — add to your briefcase to read the full text and ask questions with AI

Upon granting the petition and during the retention of jurisdiction by the committee, if there are in the district treasury at any time funds available for the payment of bonds or interest thereon, but such amount is not sufficient to pay all outstanding bonds, interest coupons, or both, then due, the funds shall be held until they amount to at least twenty per cent of the total due on all outstanding bonds and coupons and shall then be apportioned and paid to the holders of the bonds which are then on deposit with the state treasurer.