Arizona § 48-933 Issuance of improvement bonds; fund for payment of bonds

Arizona Statutes

§ 48-933 — Issuance of improvement bonds; fund for payment of bonds

Arizona § 48-933

Title 48Arizona Revised Statutes

Ch. 6COUNTY IMPROVEMENT DISTRICTS

Art. 1In General

This text of Arizona § 48-933 (Issuance of improvement bonds; fund for payment of 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. § 48-933 (2026).

Text

A.The board of directors may determine that improvement bonds be issued to represent the cost and expense of the work or improvement constructed. The bonds shall be issued in the name of the district but shall be made payable only from the special fund collected by the district from special assessments levied and assessed upon the lots fronting upon the street improved and those situated in the quarter block and irregular blocks adjoining and cornering upon the crossings, or where there is a termination in the two quarter blocks adjoining and cornering upon them halfway to the next main street crossing, and all the way to a boundary line of the district when no cross street intervenes, or, if an assessment district has been created by the resolution of intention for the work, upon the lot

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A. The board of directors may determine that improvement bonds be issued to represent the cost and expense of the work or improvement constructed. The bonds shall be issued in the name of the district but shall be made payable only from the special fund collected by the district from special assessments levied and assessed upon the lots fronting upon the street improved and those situated in the quarter block and irregular blocks adjoining and cornering upon the crossings, or where there is a termination in the two quarter blocks adjoining and cornering upon them halfway to the next main street crossing, and all the way to a boundary line of the district when no cross street intervenes, or, if an assessment district has been created by the resolution of intention for the work, upon the lots included within the limits of the assessment district.

B. All sums collected from the special assessments shall be placed in the special fund and shall be used for no other purpose than payment of the principal and interest of the bonds.