Arizona Laws 48-596. Description of improvement bonds in resolution and notices
A. When the governing body determines that improvement bonds be issued, it shall so declare in the resolution of intention for the work and shall specify the maximum rate of interest which they shall bear. A like description of the bonds shall be inserted in all notices of the proceedings required to be published or posted, and a notice that the bonds will be paid from a special fund collected in not to exceed twenty-five annual installments from the assessments of twenty-five dollars or over remaining unpaid at the date of the bonds. A like description of the bonds shall be included in the warrant.
Terms Used In Arizona Laws 48-596
- Contractor: includes the contractor's personal representative or assignee. See Arizona Laws 48-571
- governing body: includes and means the body or board which by law is constituted the legislative department of an incorporated city or town. See Arizona Laws 48-571
- improvement: includes any or all of the improvements mentioned and authorized to be made in this and article 1 of this chapter and the construction, reconstruction and repair of all or any portion of the improvements, and all labor, services, incidental expenses and material necessary or incidental to the construction, reconstruction or repair. See Arizona Laws 48-571
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Treasurer: includes any person who, under whatever official name, is the custodian of the funds of the city or town. See Arizona Laws 48-571
B. All other proceedings for the work up to and including the approval of the assessment by the governing body, and including delivery of the assessment to the contractor or treasurer, demand of payment of the several assessments and the return and record thereof, shall be in all respects as provided in this article.