Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 48. Special Taxing Districts |
Chapter 4. MUNICIPAL IMPROVEMENT DISTRICTS |
Article 3. General Improvement Fund and Investment Bonds |
Sec 48-634. Sale of bonds; disposition of proceeds
Latest version.
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The bonds may be issued and sold by the governing body as it may determine at public or private sale or by an on-line bidding process, but for not less than par. The proceeds shall be placed in the treasury to the credit of a fund to be applied exclusively to the purposes and objects prescribed by this article.