Arizona Revised Statutes § 48-2011.03 Issuance Of Bonds; Notice; Hearing

48-2011.03. Issuance of bonds; notice; hearing

Notwithstanding any other law, a sanitary district may issue bonds that refinance existing debt and that mature over a period of forty-one years only if the sanitary district complies with both of the following before issuance of the bonds:

1. The new bonds do not cause an increase in the sanitary district's bonding capacity.

2. The sanitary district's board of directors holds a public hearing regarding the issuance of the bonds. The sanitary district's board of directors shall provide public notice of the hearing as otherwise prescribed by law.

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Last modified: October 13, 2016