48-2850. Description of improvement bonds in resolution and notices
156 words·~1 min read·
/az/title-48/48-2850A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. If the board determines that improvement bonds shall be issued, it shall state this in the resolution of intention for the work and shall specify the maximum rate of interest the bonds may bear. A similar description of the bonds shall be inserted in all notices of the proceedings required to be published, posted or mailed and a notice that the bonds will be paid from a special fund collected in not more than forty annual installments from the assessments remaining unpaid at the date of the issuance of the bonds or thirty days after the date of the warrant, or five days after the decision of the board on an objection to the assessment.
B. All other proceedings for the work up to and including the approval of the assessment by the board, including demand for payment of the several assessments and the return and recording, shall be conducted as provided in this article.