Arizona Revised Statutes § 48-6275 Debt Service Account

48-6275. Debt service account

(Conditionally Rpld.)

A. If the district issues bonds under this article, the board shall establish a debt service account within the general fund consisting of monies designated and dedicated by the board for repayment of the bonds and payment of costs and related expenses associated with redeeming the bonds.

B. Monies in the debt service account may be used only for the purposes authorized by this article.

C. The fiscal agent of the district shall administer and account for the debt service account.

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Last modified: October 13, 2016