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.
48-3166 - Enforcement or foreclosure of other liens or demands subject to prior converted mortgage liens; exception; limitation on issuance of district bonds
48-3166. Enforcement or foreclosure of other liens or demands subject to prior converted mortgage liens; exception; limitation on issuance of district bonds
A. All liens, charges and demands existing at the time of the conversion of district assessments into first mortgage liens, except state, county and district taxes and unconverted taxes and assessments, and all liens thereafter created except state, county and district tax liens, may only be enforced or foreclosed against lands covered by such mortgage liens subject to the prior converted mortgage liens.
B. No tax liability for the payment of principal or interest upon any subsequently issued district bonds shall be created against the district lands, except for the payment, redemption or satisfaction of the prior converted mortgage lien, until the prior converted mortgage and all thereof, together with interest, costs and penalties, have been paid or satisfied in full.