Arizona § 48-691 Separate fund to pay interest and principal upon maturing installment

Arizona Statutes

§ 48-691 — Separate fund to pay interest and principal upon maturing installment

Arizona § 48-691

Title 48Arizona Revised Statutes

Ch. 4MUNICIPAL IMPROVEMENT DISTRICTS

Art. 5Street and Highway Improvement Bonds

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Bluebook

Ariz. Rev. Stat. Ann. § 48-691 (2026).

Text

After any indebtedness is incurred under the provisions of this article, the treasurer of the city or town, during each year such indebtedness continues, shall set aside in a separate fund from the revenues received during such year from highway user taxes, including motor vehicle fuel taxes, and all other taxes, fees, charges or other monies returned to the city or town pursuant to title 28, chapter 18, article 2 and section 42-6107, an amount sufficient to pay the interest and principal upon the installment on such indebtedness next maturing.

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After any indebtedness is incurred under the provisions of this article, the treasurer of the city or town, during each year such indebtedness continues, shall set aside in a separate fund from the revenues received during such year from highway user taxes, including motor vehicle fuel taxes, and all other taxes, fees, charges or other monies returned to the city or town pursuant to title 28, chapter 18, article 2 and section 42-6107, an amount sufficient to pay the interest and principal upon the installment on such indebtedness next maturing.