Arizona § 48-3623 Authority to issue refunding bonds; procedure; disposition of proceeds

Arizona Statutes

§ 48-3623 — Authority to issue refunding bonds; procedure; disposition of proceeds

Arizona § 48-3623

Title 48Arizona Revised Statutes

Ch. 21FLOOD CONTROL DISTRICTS

Art. 1County Flood Control Districts

This text of Arizona § 48-3623 (Authority to issue refunding bonds; procedure; disposition of proceeds) 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. § 48-3623 (2026).

Text

Any bond issued under this article may be refunded pursuant to resolution adopted by the board of directors in the manner provided in this article for the issuance of other bonds, except that an engineer's report or hearing need not be obtained or held, and it is not necessary to submit the question of the issuance of the refunding bonds at an election.  Refunding bonds so authorized may be sold and the proceeds of sale applied to or escrowed for the payment of the bonds to be refunded in such manner as may be provided in the authorizing resolution, or may be delivered in exchange for the bonds to be refunded, or may be in part sold and in part exchanged. No bonds may be refunded under this section unless they either mature or are recallable for redemption under their terms within twelve m

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

Any bond issued under this article may be refunded pursuant to resolution adopted by the board of directors in the manner provided in this article for the issuance of other bonds, except that an engineer's report or hearing need not be obtained or held, and it is not necessary to submit the question of the issuance of the refunding bonds at an election. Refunding bonds so authorized may be sold and the proceeds of sale applied to or escrowed for the payment of the bonds to be refunded in such manner as may be provided in the authorizing resolution, or may be delivered in exchange for the bonds to be refunded, or may be in part sold and in part exchanged. No bonds may be refunded under this section unless they either mature or are recallable for redemption under their terms within twelve months from the date of the issuance of the refunding bonds or unless the holders voluntarily surrender them for exchange or payment.