Arizona § 48-6276 - Securing principal and interest
Full text of Arizona Arizona Revised Statutes § 48-6276 — Securing principal and interest, with citation guidance and answers to common questions.
§ 48-6276. Securing principal and interest
(Conditionally Rpld.)
In connection with issuing bonds authorized by this article and to secure the principal and interest on the bonds, the board by resolution may:
1. Pledge for the payment of principal and interest on the bonds all or part of the revenues and other monies received by the district and deposited in the general fund or any account or subaccount of the district.
2. Pledge and assign to or in trust for the benefit of the holder or holders of the bonds all or part of the monies in the debt service account or any other account or subaccount as necessary to secure and pay the principal, the interest and any premium on the bonds as they come due.
3. Segregate the debt service account into one or more subaccounts and provide that bonds issued under this article may be secured by a lien on all or part of the monies paid into the debt service account or into any subaccount in the debt service account.
4. Establish priorities among bondholders based on criteria adopted by the board.
5. Set aside, regulate and dispose of reserves and sinking accounts.
6. Prescribe the procedure, if any, by which the terms of any 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 revenues available to the board.
8. Provide for the services of trustees, cotrustees, agents and consultants and other specialized services with respect to the bonds.
9. Take any other action that in any way may affect the security and protection of the bonds or interest on the bonds.
Source: official Arizona text · Last verified 2026-08-27
Frequently Asked Questions About Arizona § 48-6276
What does Arizona Revised Statutes § 48-6276 cover?
Section 48-6276 ("Securing principal and interest") 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 § 48-6276?
A common citation format is "Arizona Revised Statutes § 48-6276" (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 § 48-6276 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.