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. When the governing body of a municipality at a meeting has determined that the public interest or necessity demands the acquisition, construction or completion of an improvement authorized by articles 1 and 2 of this chapter, it may at that or a subsequent meeting, by a vote of a majority of all its members, order a special election and submit to the qualified electors of the municipality the proposition of issuing the investment bonds.
B. The resolution calling the election shall recite the objects and purposes for which it is proposed to use the proceeds of the bonds, the amount of the principal thereof, the rate of interest to be paid thereon, and shall fix the date on which the special election will be held, the manner of holding the election and manner of voting for or against issuing such bonds.
C. The election, except as otherwise provided in this article, shall be held, and the return thereof made and canvassed and the elector shall possess the qualifications as provided by law for holding bond elections in the municipality.