Arizona Revised Statutes § 48-3122 Payment Of Bonded Indebtedness; Release Of Lands

48-3122. Payment of bonded indebtedness; release of lands

A. Payment of the amount necessary to be made for releasing any parcel of land from the outstanding bonded indebtedness of the district may be made with the district bonds, matured interest coupons or warrants, at their par value or with an aggregate amount of bonds, interest coupons or warrants which singly, or in the aggregate do not exceed the total amount necessary for release of such land, and to which aggregate amount a money payment is added sufficient to pay for release of such land.

B. The treasurer of the district shall accept payment made as provided by this section, and upon receipt of any bonds, coupons or warrants, shall immediately cancel them, and they shall not thereafter be reissued, negotiated or circulated.

Section: Previous  48-3115  48-3116  48-3117  48-3118  48-3119  48-3120  48-3121  48-3122  48-3123  48-3124  48-3125  48-3126  48-3127  48-3128  48-3129  Next

Last modified: October 13, 2016