§ 35-503 – Calculation of debt limits
35-503. Calculation of debt limits A. For purposes of calculating all debt limits pursuant to article IX, section 8 or 8.1, Constitution of Arizona, the outstanding indebtedness of a jurisdiction shall equal the total principal amount of all bonds outstanding at the time of calculation. Bonds outstanding shall include the principal amount of all bonds […]
§ 35-701 – Definitions
35-701. Definitions In this chapter, unless the context otherwise requires: 1. " Corporation" means any corporation organized as an authority as provided in this chapter. 2. " Governing body" means: (a) The board or body in which the general legislative powers of the municipality or the county are vested. (b) The Arizona board of regents […]
§ 35-472 – Form and contents of bonds; payment of principal and interest
35-472. Form and contents of bonds; payment of principal and interest A. The refunding bonds shall be negotiable in form, executed in the name of the county, school district, city or town or similar municipal corporation, signed by the chairman of the governing board or body, countersigned by the county or municipal treasurer, sealed with […]
§ 35-473 – Limitation on issuance of refunding bonds
35-473. Limitation on issuance of refunding bonds A. Notwithstanding the provisions of section 35-426 through section 35-429, or any other provision of law to the contrary, no bonds shall be issued by or on behalf of any county, school district, city or town, or other municipal corporation or political subdivision of the state for the […]
§ 35-473.01 – Refunding bonds issued in advance of maturity of the bonds to be refunded; definition
35-473.01. Refunding bonds issued in advance of maturity of the bonds to be refunded; definition A. Refunding bonds, designated as such, may also be authorized, issued and sold pursuant to this article for the purpose of refunding any bonds theretofore issued under the authority of article 3 of this chapter or under the authority of […]
§ 35-474 – Levy of tax for payment of bonds; security
35-474. Levy of tax for payment of bonds; security A. The board of supervisors, on behalf of the county or a school district in the county, or the governing body or board of a municipal corporation that has issued refunding bonds shall levy, during each year in which the bonds are outstanding, a tax on […]
§ 35-475 – Exchange or sale of bonds; record of bonds paid or retired
35-475. Exchange or sale of bonds; record of bonds paid or retired A. The refunding bonds may be exchanged in like amount for the bonds to be refunded, or they may be sold by the governing board or body at not less than par and accrued interest, and the proceeds applied to the purpose for […]
§ 35-481 – Applicability
35-481. Applicability A. The provisions of this article shall be applicable when installments of principal and interest of a special assessment in a specific amount secured by a lien on property and on the security of which bonds shall have been issued either collectible in the manner and by the officers provided for the collection […]
§ 35-482 – Summary sale of delinquent property
35-482. Summary sale of delinquent property A. As a cumulative remedy, if any installment is delinquent, the governing body may order the summary sale of the property as provided in this section. B. The order of the governing body shall identify the property and shall state the amount of the delinquent installments for which the […]
§ 35-483 – Option to accelerate upon delinquency
35-483. Option to accelerate upon delinquency A. If any installment is delinquent, the governing body may order that the whole of the unpaid principal amount of the assessment become immediately due and payable, and be collected by summary sale proceedings pursuant to section 35-482. B. If such order is made, the amount for which the […]