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.
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48-2850 - Description of improvement bonds in resolution and notices
48-2850. Description of improvement bonds in resolution and notices
A. If the board determines that improvement bonds shall be issued, it shall state this in the resolution of intention for the work and shall specify the maximum rate of interest the bonds may bear. A similar description of the bonds shall be inserted in all notices of the proceedings required to be published, posted or mailed and a notice that the bonds will be paid from a special fund collected in not more than forty annual installments from the assessments remaining unpaid at the date of the issuance of the bonds or thirty days after the date of the warrant, or five days after the decision of the board on an objection to the assessment.
B. All other proceedings for the work up to and including the approval of the assessment by the board, including demand for payment of the several assessments and the return and recording, shall be conducted as provided in this article.