The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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.
A. Upon receipt of the certificate of the appropriate election officer as provided in section 15-493 that a majority of votes cast at the bond election favors issuing the bonds, the school district governing board shall issue the bonds of the school district in the number and amount provided in the proceedings, payable from the debt service fund of the school district, naming the fund, and the monies shall be raised by taxation upon the taxable property in the school district for redemption of the bonds and payment of interest thereon.
B. The governing board of the school district by an order entered upon its minutes shall prescribe the form of the bonds and the interest coupons attached thereto and fix the time when the whole or any part of the principal of the bonds is payable, which shall not be more than twenty years from the date thereof.