11-681.02. Issuance and sale of bonds; notice
173 words·~1 min read·
/az/title-11/11-681-02A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The board shall issue the bonds in the manner, method, number and amount provided in the resolution.
B. The board shall provide notice of its intention to issue bonds in a manner consistent with market practice.
C. The bonds may be sold by competitive bid, including an online bidding process, or by negotiated sale for public or private offering at the price and on the terms prescribed in the resolution. If bonds are sold through an online bidding process, bids for the bonds that are entered into the system may be concealed until a specified time or disclosed in the bidding process. 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.
D. The net proceeds from the sale of the bonds shall be deposited in the bond proceeds fund established pursuant to section 11-681.03.
E. Title 35, chapter 3, article 7 applies to the board and to bonds issued under this article.