Arizona § 48-5164 - Bond payment; security
Full text of Arizona Arizona Revised Statutes § 48-5164 — Bond payment; security, with citation guidance and answers to common questions.
§ 48-5164. Bond payment; security
In connection with the issuance of the bonds authorized by this article to secure the payment of the bonds and interest on the bonds, the board by resolution may:
1. Provide that bonds issued under this article may be secured by a first lien on all or any part of the monies paid into the public transportation fund.
2. Establish and segregate one or more bond accounts in the public transportation fund to set aside monies to be used to pay principal, interest and premium, if any, on the bonds and provide conditions and terms for the use of the accounts.
3. Pledge and assign to or in trust for the benefit of the holder or the holders of the bonds all or any part of the monies that are paid into the public transportation fund and that will be necessary to pay the principal of and interest on the bonds as the bonds become due.
4. Set aside, regulate and dispose of reserves and sinking funds.
5. Provide that sufficient amounts of the proceeds from the sale of the bonds may be used to fully or partly fund all reserves or sinking funds set up in the bond resolution.
6. Prescribe the procedure, if any, by which the terms of a contract with bondholders may be amended or abrogated, the amount of bonds the holders of which must consent to and the manner in which the consent may be given.
7. Provide for payment of bond related expenses from the proceeds of the sale of the bonds or other monies available to the authority.
8. Do any other matters, of like or different character, that may in any way affect the security and protection of the bonds or affect interest on the bonds.
Frequently Asked Questions About Arizona § 48-5164
What does Arizona Revised Statutes § 48-5164 cover?
Section 48-5164 ("Bond payment; security") 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 § 48-5164?
A common citation format is "Arizona Revised Statutes § 48-5164" (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 § 48-5164 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.