Arizona § 48-1618 - Payment of bonds; release of lands from bond debt; exception
Full text of Arizona Arizona Revised Statutes § 48-1618 — Payment of bonds; release of lands from bond debt; exception, with citation guidance and answers to common questions.
§ 48-1618. Payment of bonds; release of lands from bond debt; exception
A. The bonds and interest thereon shall be paid by revenue derived from an annual assessment and levy of taxes upon the real property of the district, and the real property of the district shall be liable to taxation for such payments.
B. Any parcel or parcels of land which have paid the proportionate share of the bonds before maturity based upon the acreage such parcel or parcels of land bear to the total bonded acreage of the district, together with interest thereon to and including the next following interest-paying day, shall be released and discharged from further levy of taxes for payment of the principal and interest of the bonds then outstanding, except as provided in subsection C of this section.
C. Such parcel or parcels of land shall be liable for assessment and levy of taxes for all other obligations of the district, and in case of default at maturity of any of the bonds, the lands shall be liable for that proportion of the defaulted bonded indebtedness which the acreage of such parcel or parcels of land bear to the total bonded indebtedness of the district.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 48-1618
What does Arizona Revised Statutes § 48-1618 cover?
Section 48-1618 ("Payment of bonds; release of lands from bond debt; exception") 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 § 48-1618?
A common citation format is "Arizona Revised Statutes § 48-1618" (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 § 48-1618 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.