Arizona § 48-1045 - General obligation bonds
Full text of Arizona Arizona Revised Statutes § 48-1045 — General obligation bonds, with citation guidance and answers to common questions.
§ 48-1045. General obligation bonds
A. At any time after the hearing on formation of the district, the district board, or if before formation, the board of supervisors, may order and call a general obligation bond election to submit to the qualified electors of the district the question of authorizing the district board to issue general obligation bonds of the district to provide monies for any rural road improvements. The election may be combined with the formation election, but must be held on the first Tuesday following the first Monday in November as prescribed by section 16-204, subsection B, paragraph 1, subdivision (d).
B. The district shall not issue bonds which would cause the aggregate principal amount of bonds outstanding to exceed twenty-five per cent of the full cash value of real property in the district on the date of issue.
C. If general obligation bonds are approved at an election, the district board may issue and sell general obligation bonds of the district.
D. The district board may issue and sell general obligation refunding bonds to refund any general obligation bonds of the district. No election on the issuance of such refunding bonds is required.
Frequently Asked Questions About Arizona § 48-1045
What does Arizona Revised Statutes § 48-1045 cover?
Section 48-1045 ("General obligation bonds") 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 § 48-1045?
A common citation format is "Arizona Revised Statutes § 48-1045" (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 § 48-1045 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.