Arizona § 15-1030 - Cancellation of unsold bonds; notice; hearing
Full text of Arizona Arizona Revised Statutes § 15-1030 — Cancellation of unsold bonds; notice; hearing, with citation guidance and answers to common questions.
§ 15-1030. Cancellation of unsold bonds; notice; hearing
A. If a bond issue remains unsold for six months after being offered for sale, the governing board of the school district or any school district comprised wholly or partly of territory which at the time of holding the bond election was within the school district may cancel the unsold bonds.
B. The school district governing board shall fix a time for a hearing on the proposed cancellation of the unsold bonds. The school district governing board shall give notice of the time and place of the hearing which shall set forth in general terms the object of the hearing. The notice shall be published for ten days prior to the day of hearing in some newspaper published in the school district. If no newspaper is published in the school district, the notice shall be published in a newspaper published at the county seat of the county in which the school district or some part thereof is located.
C. At the time and place designated in the notice the school district governing board shall hear reasons for or against granting the proposed cancellation of the unsold bonds, and if the board deems it for the best interests of the school district that the unsold bonds be canceled it shall enter an order canceling the unsold bonds, and thereupon the bonds and the vote by which they were authorized to be issued shall be void.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 15-1030
What does Arizona Revised Statutes § 15-1030 cover?
Section 15-1030 ("Cancellation of unsold bonds; notice; hearing") is part of the Arizona Revised Statutes, the codified statutory law of Arizona. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Arizona § 15-1030?
A common citation format is "Arizona Revised Statutes § 15-1030" (Arizona). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Arizona law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Arizona official source linked on this page or consult a licensed Arizona attorney.
How does Arizona § 15-1030 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Arizona can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Arizona.