Arizona § 48-2777 - Minimum rate of exchange
Full text of Arizona Arizona Revised Statutes § 48-2777 — Minimum rate of exchange, with citation guidance and answers to common questions.
§ 48-2777. Minimum rate of exchange
The refunding bonds may be exchanged at not less than ninety-five per cent of their par value, including accrued interest, for any of the indebtedness described in the notice of the election authorizing the issuance of the refunding bonds. A contract for such exchange may be made by the board of directors on such terms as the board deems advisable, but the board shall receive not less than ninety-five per cent of the value of the refunding bonds so exchanged.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 48-2777
What does Arizona Revised Statutes § 48-2777 cover?
Section 48-2777 ("Minimum rate of exchange") 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 § 48-2777?
A common citation format is "Arizona Revised Statutes § 48-2777" (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 § 48-2777 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.