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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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.
48-3123 - Issuance of certificate of release upon payment of bonded indebtedness
48-3123. Issuance of certificate of release upon payment of bonded indebtedness
Upon full payment of the indebtedness upon any parcel of land as provided by this chapter, the county treasurer shall issue a certificate reciting the fact of such payment and deliver the certificate to the person making payment. The certificate may be recorded in the office of the county recorder of the county in which the parcel of land is located and from delivery thereof the certificate shall operate as a release and discharge of the lands described therein from further taxation to meet payments of principal or interest upon the district bonds then outstanding, except in the event of a default of the district in payment of the bonds at maturity, taxes may be levied on such parcel of land to meet the deficiency. If property so released is taxed to pay the deficiency it shall be entitled to all benefits accruing from the purchase of lands sold at tax sales.