Arizona Revised Statutes § 48-6281 Investment Of Monies In The Bond Proceeds Account

48-6281. Investment of monies in the bond proceeds account

(Conditionally Rpld.)

A. The board may authorize the district fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 48-6283.

B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the bond proceeds account shall be credited to the district's general fund.

Section: Previous  48-6274  48-6275  48-6276  48-6277  48-6278  48-6279  48-6280  48-6281  48-6282  48-6283  48-6284  48-6285  48-6286  48-6287  48-6401  Next

Last modified: October 13, 2016