45-1992. Prerequisites to issuance
69 words·~1 min read·
/az/title-45/45-1992A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No revenue bonds may be issued until provision is made by contracts pursuant to this chapter adequate in the judgment of the board to ensure all necessary fiscal reserves, operation costs, maintenance and depreciation charges and payment of principal and interest of any bonds relating to any proposed project or facility involved and within the time fixed. Revenue bonds shall not be issued except on resolution by the authority.