48-596. Description of improvement bonds in resolution and notices
159 words·~1 min read·
/az/title-48/48-596A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. When the governing body determines that improvement bonds be issued, it shall so declare in the resolution of intention for the work and shall specify the maximum rate of interest which they shall bear. A like description of the bonds shall be inserted in all notices of the proceedings required to be published or posted, and a notice that the bonds will be paid from a special fund collected in not to exceed twenty-five annual installments from the assessments of twenty-five dollars or over remaining unpaid at the date of the bonds. A like description of the bonds shall be included in the warrant.
B. All other proceedings for the work up to and including the approval of the assessment by the governing body, and including delivery of the assessment to the contractor or treasurer, demand of payment of the several assessments and the return and record thereof, shall be in all respects as provided in this article.