35-421. State loan commissioners; issuance of bonds; exemption of bonds from taxes A. The governor, the director of the department of administration and the state treasurer shall constitute the loan commissioners of the state of Arizona. B. The loan commissioners shall provide for payment of state indebtedness. For the purpose of paying, redeeming and refunding […]
35-422. Denominations and terms of bonds A. The bonds provided for in section 35-421 shall be issued as nearly as practicable in denominations of one thousand dollars, but bonds of a lower denomination not less than one hundred dollars may be issued when necessary. The bonds shall bear interest at a rate fixed by the […]
35-423. Interest coupons A. Coupons for interest shall be attached to each bond, shall be consecutively numbered and bear the same number as the bond to which it is attached, shall bear the facsimile signature of the state treasurer and shall cover the interest expressed in the bond from the date of issue until paid. […]
35-424. Sale of bonds; notice, publication and bids A. When the loan commissioners are authorized to issue bonds, or decide to refund or redeem all or any of the existing indebtedness of the state, they shall direct the state treasurer to advertise the sale of the bonds to be issued for that purpose by causing […]
35-425. Delivery of bonds A. When the sale is awarded, the loan commissioners shall procure the necessary bonds, and, after signing the bonds, deliver them to the state treasurer, taking his receipt for the bonds, and charging him therewith. The treasurer shall deliver the bonds to the purchaser for cash, or exchange them for any […]
35-426. Application of proceeds to redemption of indebtedness; notice to redeem A. The state treasurer shall apply monies received to redeem the indebtedness of the bonds issued and shall give notice in the same manner as for paying and redeeming state warrants, checks and substitute checks, and electronic funds transfer vouchers. After the state treasurer […]
35-427. Tax levy for amortization of bonds; determination of tax rate; additional levy; application of monies; violation; penalty A. There shall be levied annually upon the taxable property in this state, in addition to other levies, an amount sufficient to pay the interest on all bonds issued under the provisions of this article, to be […]
35-428. Redemption of bonds; notice; record of bonds redeemed A. When, after the expiration of fifteen years from the date of issuance of any bonds, there is in the redemption fund a surplus of ten thousand dollars or more, the state treasurer shall advertise, in the same manner as required for bids for the sale […]
35-429. Issuance of state bonds for county, municipal or school district indebtedness A. The board of supervisors of each county and the proper municipal or school authority shall report to the state loan commissioners the bonded and outstanding indebtedness of the county, municipality or school district, and, upon demand of such authorities, the loan commissioners […]
35-430. Cancellation of redeemed bonds; record of redemption; transmittal of abstract of record; payment of interest A. When the state treasurer pays or redeems any indebtedness, the treasurer shall endorse, by writing or stamping in ink, on the face of the paper evidencing such indebtedness so paid or redeemed, the words " redeemed and canceled" […]
35-431. Registration of bond; effect; entry of registration When the owner of a bond authorized to be issued by this article presents it to the director of the department of administration with a request for its conversion into a registered bond, the director of the department of administration shall detach and cancel the coupons, and […]
