Arizona § 48-5162 - Bond authority
Full text of Arizona Arizona Revised Statutes § 48-5162 — Bond authority, with citation guidance and answers to common questions.
§ 48-5162. Bond authority
Subject to this article the board may:
1. Issue negotiable bonds in a principal amount that, in the opinion of the board, is necessary to provide sufficient monies for any public transportation purpose that is included in the regional public transportation system plan, to establish reserves to secure the bonds and to provide for the payment of all other expenditures of the board incidental, necessary and convenient to carry out these purposes.
2. Issue refunding bonds if the board deems refunding expedient.
3. Refund any bonds issued by the board if the bonds are secured from the same source of revenues as the bonds authorized in this article by the issuance of new bonds, whether or not the bonds to be refunded have matured.
4. Issue bonds partly to refund bonds then outstanding and partly for any public transportation purpose consistent with this article. Regardless of whether or not the bonds are of such form or character as to be negotiable instruments under the terms of the uniform commercial code, the bonds are fully negotiable within the meaning and for all purposes of the uniform commercial code.
Frequently Asked Questions About Arizona § 48-5162
What does Arizona Revised Statutes § 48-5162 cover?
Section 48-5162 ("Bond authority") 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 § 48-5162?
A common citation format is "Arizona Revised Statutes § 48-5162" (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 § 48-5162 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.