48-3192. Form of bonds; record of sales
206 words·~1 min read·
/az/title-48/48-3192A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. The board of directors may by resolution prescribe:
1. The issuance of bonds in one or more series.
2. The dates the bonds shall bear.
3. The medium of payment in which the bonds are payable.
4. The places of payment of the bonds.
5. Registration privileges of the bonds.
6. The manner of executing the bonds.
7. The terms, covenants and conditions of the bonds.
8. The time and manner of payment of the bonds.
9. The maturity dates of the bonds, not to exceed thirty years from the date of their issuance.
10. The terms and manner by which the bonds are callable.
11. The interest rate of the bonds, not to exceed the maximum rate of interest in the notice calling the election.
B. The board of directors may determine the time and manner of sale of the bonds which the board deems most advantageous, either by public sale or private sale. The district may pay all expenses, premiums and commissions which its board of directors deems necessary or advantageous to the issuance of the bonds.
C. The secretary shall keep a record of the bonds sold, their number, date of sale, the price received and the name of the purchaser thereof.