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Code · Arizona · Title 48 — Special Taxing Districts

48-4887. Payment of interest coupons; investment of bond fund monies

80 words·~1 min read·/az/title-48/48-4887

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

The secretary-treasurer of the district shall:
1. Pay matured interest coupons from bonds of the district from the bond fund.
2. Invest monies in the bond fund, under direction of the board, in bonds of the United States or this state which shall be kept in the bond fund and may be used to redeem bonds of the district, on the request of the holders, either by exchanging them for bonds of the district or by converting them into cash.
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