Arizona Laws 48-4887. Payment of interest coupons; investment of bond fund monies
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The secretary-treasurer of the district shall:
Terms Used In Arizona Laws 48-4887
- Board: means either the initial board of directors or the permanent board of directors of a district. See Arizona Laws 48-4801
- District: means an active management area water district established under this chapter. See Arizona Laws 48-4801
- United States: includes the District of Columbia and the territories. See Arizona Laws 1-215
1. Pay matured interest coupons from bonds of the district from the bond fund.
2. Invest monies in the bond fund, under direction of the board, in bonds of the United States or this state which shall be kept in the bond fund and may be used to redeem bonds of the district, on the request of the holders, either by exchanging them for bonds of the district or by converting them into cash.