11-273. Sale of bonds; disposition of proceeds
142 words·~1 min read·
/az/title-11/11-273A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. When the bonds are executed, numbered consecutively and sealed, they shall be delivered to the county treasurer, and his receipt taken therefor, and he shall stand charged with all bonds delivered to him and the proceeds thereof.
B. The treasurer shall sell the bonds under the direction and with the approval of the board for not less than par and accrued interest, and the proceeds of the sale shall be used exclusively for the purpose for which issued and as stated in the resolution.
C. The bonds shall be sold to the highest bidder for any part of them after advertising for bids therefor for not less than three weeks in some newspaper of general circulation in the county and in such other newspapers as the board may direct, the right being reserved to reject any or all of the bids.