Arizona Revised Statutes § 48-4913 Scope Of Resolution

48-4913. Scope of resolution

A. Resolutions for a bond issue or issues under this article shall state the amount of the proposed issue or issues, the proposed interest rate and types and terms of bonds, that all other methods of necessary financing by the district have been found impractical, inadvisable or inadequate and that the issuance of the bonds is necessary and advisable as proposed.

B. Resolutions shall be signed by the district chairman and secretary-treasurer. In support of the resolution the district shall enter into its record pertinent engineering, economic and financial data, appropriate maps, drawings, plans, outlines, calculations, summaries and related agreements and any other essential information constituting a record appropriate to the resolution.

C. The resolution may approve a bond issue to finance an entire plan or system or any single or joint project, section or other facility of a related system or plan proposed for ultimate integration and completion.

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Last modified: October 13, 2016