2016 Arizona Revised Statutes
Title 35 - Public Finances
§ 35-475 Exchange or sale of bonds; record of bonds paid or retired
35-475. Exchange or sale of bonds; record of bonds paid or retired
A. The refunding bonds may be exchanged in like amount for the bonds to be refunded, or they may be sold by the governing board or body at not less than par and accrued interest, and the proceeds applied to the purpose for which the bonds were issued.
B. The governing board or body shall keep a record disclosing the date, number, amount and maturity of each bond, the payments of interest or principal thereon, and its destruction when paid or retired. All bonds paid and retired shall be burned and destroyed by the governing board or body.
Disclaimer: These codes may not be the most recent version. Arizona may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
