11-272. Bonds; interest limitation; form

290 words·~1 min read·/az/title-11/11-272

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The bonds authorized to be issued by section 11-271 shall bear interest at a rate or rates set forth in the accepted bid, payable semiannually, and shall be issued in such denominations, not less than one hundred dollars each, as the board may direct. The bonds shall be signed by the chairman and attested by the clerk of the board, and shall be in substantially the following form:

"No. _______ The county of ________ in the state of Arizona, for value received, promises to pay to _________ or order, at the office of the treasurer of said county in __________, on the first day of ________, or at any time before that date, at the pleasure of the county, the sum of __________ dollars, with interest at the rate of ___________ per cent, per annum, payable at the office of said treasurer semiannually on the first days of ___________ and _________ in each year on presentation and surrender of the interest coupons hereto attached.

This bond is issued by the board of supervisors under the provisions of sections ____________ to ____________, inclusive, revised statutes of Arizona, 19__, and in conformity with a resolution of said board, dated ____________ day of __________, 19__ (Seal.)

In testimony whereof the said county, by its board of supervisors has caused this bond to be signed by the chairman of the board and attested by the clerk of the board, with the county seal attached, this __________ day of ___________, 19__."

B. The interest coupons shall be in the following form:

"$____________ The treasurer of __________ county, Arizona, will pay to the holder hereof, on the ____________ day of ____________, 19__, at his office _____________, ___________ dollars for interest on county bond no. ___________."