Arizona § 48-6282 Investment of monies in debt service account

Arizona Statutes

§ 48-6282 — Investment of monies in debt service account

Arizona·Title 48 Arizona Revised Statutes·Ch. 36 THEME PARK DISTRICTS·Art. 4 Revenue Bonds

(Conditionally Rpld.)

A.The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by section 48-6283.

B.The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C.All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited to the district's general fund and applied to bond debt as it accrues.

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(Conditionally Rpld.)

A. The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by section 48-6283.

B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited to the district's general fund and applied to bond debt as it accrues.

Arizona § 48-6282 (Investment of monies in debt service account) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.