30-192. Authorization for bond or collateral security
107 words·~1 min read·
/az/title-30/30-192A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The governing or administrative body of an operating unit, if it finds the giving of the bond or pledge, or both, necessary or advisable and for the best public interest, may by two-thirds vote of its members at any regular or special meeting, pass and adopt a resolution or take other appropriate action authorizing the making and delivery of the bond or pledge, or both, as circumstances indicate. The findings of the body and its determination respecting the bond or pledge shall be final and conclusive. The authorized officers of the district, state agency or municipality may execute and deliver the bond or pledge on its behalf.