§ 15-1696 – Commercial paper; requirements
15-1696. Commercial paper; requirements A. The board has the power and is hereby authorized to issue commercial paper from time to time to provide short-term financing for any capital project or costs and expenses related to a capital project of one or more institutions or to provide for payment of commercial paper or other obligations […]
§ 15-1684 – Refunding bonds
15-1684. Refunding bonds The board shall have power, and is hereby authorized from time to time, to issue refunding bonds: 1. To refund unpaid matured bonds. 2. To refund unpaid matured coupons evidencing interest upon its unpaid matured bonds. 3. To refund interest at the coupon rate upon its unpaid matured bonds that has accrued […]
§ 15-1685 – Security of bonds
15-1685. Security of bonds In connection with the issuance of any bonds under this article, and in order to secure the payment of any such bonds and the interest thereon, the board shall have power for each institution: 1. To fix, maintain and collect: (a) Fees, tuitions, rentals and other charges from students, faculty, staff […]
§ 15-1686 – Effect on bonds authorized but unissued
15-1686. Effect on bonds authorized but unissued All acts granting authority to the board to construct or acquire any buildings, projects or facilities and to issue bonds therefor shall be kept in full force and effect but shall be supplemented by this enactment if both of the following occur: 1. Bonds remain authorized but not […]
§ 15-1687 – Enforcement of contract
15-1687. Enforcement of contract The provisions of this article and of any resolution or other proceeding authorizing the issuance of bonds shall constitute a contract with the holders of such bonds and the provisions thereof shall be enforceable either in law or in equity, by suit, action, mandamus or other proceeding in any court of […]
§ 15-1688 – Monies of the board
15-1688. Monies of the board No monies derived from the sale of bonds issued under the provisions of this article or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds shall be required to be paid into the state treasury but shall be invested in obligations […]
§ 15-1689 – Validity of bonds
15-1689. Validity of bonds The bonds bearing the signatures of officers of the board in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all persons whose signatures appear thereon shall have ceased to be such officers. The validity […]
§ 15-1690 – Prohibitions against obligating state of Arizona
15-1690. Prohibitions against obligating state of Arizona Nothing in this article shall be construed to authorize the board to contract a debt on behalf of, or in any way to obligate, the state of Arizona, or to pledge, assign or encumber in any way, or to permit the pledging, assigning or encumbering in any way, […]
§ 15-1691 – Bonds; obligations of board
15-1691. Bonds; obligations of board All bonds issued pursuant to this article shall be obligations of the board issuing such bonds, payable only in accordance with the terms thereof, and shall not be obligations general, special or otherwise of the state of Arizona. Such bonds shall not constitute a debt, legal or moral, of the […]
§ 15-1692 – Certification of bonds by attorney general
15-1692. Certification of bonds by attorney general The board may submit to the attorney general of the state of Arizona any bonds to be issued hereunder after all proceedings for the issuance of such bonds have been taken. Upon the submission of such proceedings to the attorney general, it shall be the duty of the […]