48-2011.03. Issuance of bonds; notice; hearing
89 words·~1 min read·
/az/title-48/48-2011-03A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Notwithstanding any other law, a sanitary district may issue bonds that refinance existing debt and that mature over a period of forty-one years only if the sanitary district complies with both of the following before issuance of the bonds:
1. The new bonds do not cause an increase in the sanitary district's bonding capacity.
2. The sanitary district's board of directors holds a public hearing regarding the issuance of the bonds. The sanitary district's board of directors shall provide public notice of the hearing as otherwise prescribed by law.