Arizona Laws 48-3203. Authorization of expenditures from proceeds of certified bonds by state certification board
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When the bonds of a district have been certified as provided by sections 48-3202 through 48-3204, no expenditure of any kind shall be made from the proceeds thereof without the consent of the state certification board, and no obligation shall be incurred which is payable from such proceeds without previous authorization of the state certification board.
Terms Used In Arizona Laws 48-3203
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.