Arizona § 48-149 - Covenants in resolution
Full text of Arizona Arizona Revised Statutes § 48-149 — Covenants in resolution, with citation guidance and answers to common questions.
§ 48-149. Covenants in resolution
A. Any resolution pertaining to the issuance of bonds under this article may contain covenants as to:
1. The purpose to which the proceeds of the sale of the bonds may be applied and to the use and disposition thereof.
2. The use and disposition of the revenue of the undertaking for which the bonds are to be issued.
3. The issuance of other or additional bonds payable from the revenue of the undertaking.
4. The operation and maintenance of the undertaking.
5. The insurance to be carried thereon and the use and disposition of insurance monies.
6. Books of account and the inspection and audit thereof.
7. The terms and conditions upon which the holders of the bonds, or any proportion of them or any trustee therefor, shall be entitled to the appointment of a receiver, who may enter and take possession of the undertaking, operate and maintain the same, prescribe charges, and collect, receive and apply all revenue thereafter arising therefrom in the same manner as the district itself might do.
B. The provisions of this article and any such resolution shall be deemed a contract with the holders of the bonds, and the duties of the district and of its board of directors and officers under this article and any such resolution shall be enforceable by mandamus or any appropriate action of a court of competent jurisdiction.
Frequently Asked Questions About Arizona § 48-149
What does Arizona Revised Statutes § 48-149 cover?
Section 48-149 ("Covenants in resolution") 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 § 48-149?
A common citation format is "Arizona Revised Statutes § 48-149" (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 § 48-149 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.