Arizona § 48-985 Prepayment of assessment

Arizona Statutes

§ 48-985 — Prepayment of assessment

Arizona § 48-985

Title 48Arizona Revised Statutes

Ch. 6COUNTY IMPROVEMENT DISTRICTS

Art. 2County Improvement Districts-Alternate Procedure for Assessing and Financing Proposed Improvements and Providing for the Issuance of Bonds Prior to Construction of Improvements

This text of Arizona § 48-985 (Prepayment of assessment) 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. § 48-985 (2026).

Text

A.An owner may elect to pay the total amount of the assessment levied on a lot or tract of land owned by him, or the unpaid balance thereof if a part has been paid.

B.When an owner has prepaid an assessment on any lot or tract of land, such lot or tract shall not thereafter be subject to annual assessment and interest installment levies therefor.

C.When any owner elects to pay off his assessment, the treasurer shall ascertain what bonds may be called by reason thereof and the amount which the owner shall pay therefor, which shall be the total of the following sums:

1.The amount of any delinquent installments of principal and interest, together with penalties, interest and costs due thereon.

2.Any installment of principal and interest which has been posted to the tax roll for the c

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A. An owner may elect to pay the total amount of the assessment levied on a lot or tract of land owned by him, or the unpaid balance thereof if a part has been paid.

B. When an owner has prepaid an assessment on any lot or tract of land, such lot or tract shall not thereafter be subject to annual assessment and interest installment levies therefor.

C. When any owner elects to pay off his assessment, the treasurer shall ascertain what bonds may be called by reason thereof and the amount which the owner shall pay therefor, which shall be the total of the following sums:

1. The amount of any delinquent installments of principal and interest, together with penalties, interest and costs due thereon.

2. Any installment of principal and interest which has been posted to the tax roll for the current fiscal year.

3. The unpaid balance of principal thereof, plus a premium computed as provided in section 48-986, subsection B.

4. An amount to be fixed by the treasurer for publishing a notice calling the bonds, if notice is to be published.

5. Interest to the date of call on the amount of principal to be used for call, less the amount of interest provided in paragraph 2 of this subsection. If the amount of principal paid is in excess of the amount for which bonds may be called, additional interest shall be collected on the excess amount for an additional one year.