Arizona § 5-1463 Authorization of bonds

Arizona Statutes

§ 5-1463 — Authorization of bonds

Arizona § 5-1463

Title 5Arizona Revised Statutes

Ch. 12SOUTHERN ARIZONA SPORTS, TOURISM AND FILM AUTHORITY

Art. 3Revenue Bonds

This text of Arizona § 5-1463 (Authorization 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. § 5-1463 (2026).

Text

A.The board may issue bonds pursuant to this article in a principal amount that is necessary to:

1.Provide sufficient monies for any authority purposes.

2.Establish and fully or partially fund any required reserves or sinking accounts.

3.Issue refunding bonds to refund bonds issued by the authority if the board considers refunding to be expedient. The board may provide for investing and holding the proceeds of the refunding bonds in trust for the benefit of the holders of the bonds being refunded.

B.The board shall authorize the bonds by resolution. The resolution shall prescribe:

1.The revenue sources that are pledged and dedicated to secure the bonds.

2.The rate or rates of interest, which may be fixed or variable, the date or dates on which interest is payable and the deno

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A. The board may issue bonds pursuant to this article in a principal amount that is necessary to:

1. Provide sufficient monies for any authority purposes.

2. Establish and fully or partially fund any required reserves or sinking accounts.

3. Issue refunding bonds to refund bonds issued by the authority if the board considers refunding to be expedient. The board may provide for investing and holding the proceeds of the refunding bonds in trust for the benefit of the holders of the bonds being refunded.

B. The board shall authorize the bonds by resolution. The resolution shall prescribe:

1. The revenue sources that are pledged and dedicated to secure the bonds.

2. The rate or rates of interest, which may be fixed or variable, the date or dates on which interest is payable and the denominations of the bonds.

3. The date or dates of the bonds and maturity, which shall be within thirty years after the date of issuance.

4. The manner of executing the bonds.

5. The medium and place of payment.

6. The terms of redemption, which may provide for a premium for early redemption.