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Code · Arizona · Title 48 — Special Taxing Districts

48-2216. Sale of bonds; disposition of proceeds

114 words·~1 min read·/az/title-48/48-2216

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. The board of directors of a health service district shall sell bonds issued pursuant to section 48-2215, subsections A through C at not less than par value, and the proceeds shall be placed in the county treasury of the organizing county to the credit of the district. The county treasurer shall keep an accurate record of all monies of the district paid to him.
B. The fund shall be used exclusively for the purposes mentioned in the resolution calling the bond election. Payments from the fund shall be made upon claims allowed by the board of directors of the district, prepared, presented and audited in the same manner as claims upon county funds.
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