Arizona Revised Statutes - Title 48 Special Taxing Districts - Section 48-1598 Issuance of certificate of release upon payment of bonded indebtedness; exception
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48-1598. Issuance of certificate of release
upon payment of bonded indebtedness; exception
Upon full payment of the indebtedness upon any parcel or parcels of land as provided
by this chapter, the treasurer shall issue a certificate reciting the fact of such
payment and deliver the certificate to the person making the payment. The certificate
may be recorded in the office of the county recorder of the county in which the parcel or
parcels of land are located and from delivery thereof the certificate shall operate as a
release and discharge of the lands described therein from any further taxation to meet
payments of principal or interest upon district bonds then outstanding, except in the
event of default of the district in payment of the bonds at maturity, taxes may be levied
on such parcel or parcels of land to meet the deficiency. If property so released is
taxed to pay the deficiency it shall be entitled to all benefits accruing from the
purchase of lands sold at tax sales.
Sections: 48-1591 48-1592 48-1593 48-1594 48-1595 48-1596 48-1597 48-1598 48-1599 48-1600 48-1601 48-1602 48-1603 48-1604 48-1611
Last modified: February 20, 2012
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