Arizona Laws 35-430. Cancellation of redeemed bonds; record of redemption; transmittal of abstract of record; payment of interest
A. When the state treasurer pays or redeems any indebtedness, the treasurer shall endorse, by writing or stamping in ink, on the face of the paper evidencing such indebtedness so paid or redeemed, the words "redeemed and canceled" with the date of cancellation.
Terms Used In Arizona Laws 35-430
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Writing: includes printing. See Arizona Laws 1-215
B. The state treasurer shall keep a complete record of all bonds redeemed and surrendered and shall transmit to the governor an abstract of the record with the annual report, which shall be submitted by the governor to the legislature.
C. The treasurer shall pay the interest on the bonds, when due, from the interest fund, if sufficient, and if not sufficient, from the state general fund. If a deficiency exists, the director of the department of administration shall draw a warrant, check or electronic funds transfer voucher on the state treasurer, payable to the order of the state treasurer from the state general fund.