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. The treasurer of the county issuing bonds secured by bridge construction revenues shall establish an interest fund and a redemption fund for paying the bonds. The treasurer shall deposit into the funds bridge construction revenues in amounts sufficient to pay the interest and principal of the bonds as they mature. The funds shall be used solely to pay principal and interest on the bonds.
B. The treasurer of the county issuing bonds secured by highway improvement revenues shall establish an interest fund and a redemption fund for paying the bonds. The treasurer shall deposit into the funds highway improvement revenues in amounts sufficient to pay the interest and principal of the bonds as they mature. The funds shall be used solely to pay the principal and interest on the bonds.
C. The funds under subsections A and B shall be established and maintained separately and used exclusively for the respective purposes for which they are established.