Arizona Revised Statutes § 48-934 Description Of Improvement Bonds In Resolution And Notices

48-934. Description of improvement bonds in resolution and notices

A. When the board of directors determines that improvement bonds shall be issued, it shall so declare in the resolution of intention for the work and shall specify the maximum rate of interest which they may bear.

B. A notice that the bonds will be paid from a special fund collected in not to exceed twenty-five annual installments, or not to exceed forty annual installments in the case of domestic water improvement districts and domestic wastewater improvement districts as defined by section 48-1011, from the assessments of twenty-five dollars or over remaining unpaid thirty days after the date of the warrant, or after the date of assessment if no warrant is issued, or five days after the decision of the board upon an objection shall be included in the warrant.

C. All other proceedings for the work up to and including the approval of the assessment by the board, and including delivery of the assessment to the contractor or treasurer, demand of payment of the several assessments and the return and record thereof, shall be in all respects as provided in this article.

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Last modified: October 13, 2016