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2012 Arizona Revised Statutes
Title 48 Special Taxing Districts
48-6281 Investment of monies in the bond proceeds account

Universal Citation:
AZ Rev Stat § 48-6281 (through 2nd Reg Sess. 50th Leg. 2012)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

48-6281. Investment of monies in the bond proceeds account

(Conditionally Rpld.)

A. The board may authorize the district fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 48-6283.

B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the bond proceeds account shall be credited to the district's general fund.

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