35-403. Form and contents of bonds
135 words·~1 min read·
/az/title-35/35-403A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Tax anticipations bonds shall be signed by the governor, attested by the director of the department of administration and countersigned by the state treasurer, and shall be payable within six months from the date. They shall bear interest at such rate or rates, not exceeding nine per cent per annum, bear such date and shall be payable at such place as determined by the loan commissioners.
B. Each bond shall recite:
1. That it is issued in anticipation of state taxes theretofore levied but remaining uncollected.
2. The fiscal year or years for which the taxes were levied.
3. Whether it is payable from the proceeds of ad valorem taxes levied upon taxable property or from the state's share of excise taxes, or both.
4. That the bond is issued pursuant to this article.