Arizona Revised Statutes § 48-6674 Issuance And Sale Of Bonds

48-6674. Issuance and sale of bonds

(Conditionally Rpld. Delayed Rpld.)

A. The board shall issue the bonds in the number and amount provided in the resolution. The board shall provide notice of its intention to issue bonds in a manner consistent with market practice.

B. The bonds may be sold by competitive public sale, through an online bidding process or at negotiated sale for public or private offering at the price and on the terms prescribed in the resolution. For the purposes of this subsection, " online bidding process" means a procurement process in which the board receives bids electronically over the internet in a real-time, competitive bidding event.

C. The proceeds from the sale of the bonds shall be deposited in the bond proceeds account established pursuant to section 48-6675.

D. Title 35, chapter 3, article 7 applies to the board and to bonds issued under this article.

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Last modified: October 13, 2016