Arizona § 28-8532 - Bond terms
Full text of Arizona Arizona Revised Statutes § 28-8532 — Bond terms, with citation guidance and answers to common questions.
§ 28-8532. Bond terms
A. With respect to bonds issued pursuant to this article, the board of directors of the joint powers airport authority shall:
1. Prescribe the denominations of the bonds, the size of each issue and the form of the bonds.
2. Establish the maturities, interest payment dates and interest rates, whether fixed or variable, not exceeding the maximum rate stated in the resolution of the board of directors of the airport authority.
B. The bonds may contain terms, conditions, covenants and agreements as the board of directors of the airport authority deems proper.
C. The bonds may be sold by competitive bid or negotiated sale for public or private offering at, below or above par. If the bonds are sold below par, the aggregate amount of discount and interest to be paid on the bonds shall not exceed the amount of interest that would have been payable on those bonds pursuant to the maturity schedule prescribed by the board of directors of the airport authority at the maximum rate provided in the bond resolution.
D. The proceeds of sales shall be deposited with the treasurer or with a trustee or agent designated by the board of directors of the airport authority to the credit of the airport authority to be withdrawn for the purposes provided by this article. Pending that use, the proceeds may be invested as determined by the airport authority.
Frequently Asked Questions About Arizona § 28-8532
What does Arizona Revised Statutes § 28-8532 cover?
Section 28-8532 ("Bond terms") 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 § 28-8532?
A common citation format is "Arizona Revised Statutes § 28-8532" (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 § 28-8532 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.