The Arizona Revised Statutes have been updated to include the revised sections from the 57th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 57th Legislature, 2nd Regular Session, which convenes in January 2026.
DISCLAIMER
This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
48-1792 - Determination of amount of initial bond issue
48-1792. Determination of amount of initial bond issue
A. The board of directors in making estimates for the first bond issue shall determine the amount of the organization indebtedness and include it in the amount for which the first bonds are proposed to be issued. The board shall, if it deems it advisable, include in the amount for which the first bond issue is proposed the interest on the bonds for not more than the first three years after their issue.
B. The board shall upon the record propose the construction, operations and expenditures without elaborating but stated in such detail as to give the electors a reasonable understanding of the proposed operations and expenditure of the district.
C. The board shall ascertain and determine from reliable estimates and investigation the cost of construction in such detail as they find necessary. Alternative propositions may be made as to details if necessary. This section shall be complied with in such manner as to give the electors a fair understanding of the proposed expenditures.