Arizona § 28-7502 - Bond authority
Full text of Arizona Arizona Revised Statutes § 28-7502 — Bond authority, with citation guidance and answers to common questions.
§ 28-7502. Bond authority
A. Subject to this article, the board may:
1. Issue its negotiable bonds in a principal amount that in the opinion of the board is necessary to provide sufficient monies for any highway purpose, to establish reserves to secure the bonds and to provide for the payment of all other expenditures of the board incidental to and necessary and convenient to carry out these purposes.
2. Issue refunding bonds if the board deems refunding expedient.
3. Refund any bonds issued by the board or by its predecessor in interest, the Arizona state highway commission, if these bonds are secured from the same source of revenues as the bonds authorized in this article, by the issuance of new bonds, whether or not the bonds to be refunded have matured.
4. Issue bonds partly to refund bonds then outstanding and partly for any highway purpose consistent with this article or as the legislature may authorize.
5. Provide for the registration as to the principal or both principal and interest of the bonds.
B. Regardless of whether or not the bonds are of such form or character as to be negotiable instruments under the terms of the negotiable instruments law, the bonds are fully negotiable within the meaning of and for all purposes of the negotiable instruments law.
Frequently Asked Questions About Arizona § 28-7502
What does Arizona Revised Statutes § 28-7502 cover?
Section 28-7502 ("Bond authority") 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 § 28-7502?
A common citation format is "Arizona Revised Statutes § 28-7502" (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 § 28-7502 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.