The determination of the governing body issuing refunding bonds that the limitations imposed pursuant to this article on the issuance of refunding bonds have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion.

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Terms Used In Arizona Laws 48-656

  • Fraud: Intentional deception resulting in injury to another.
  • 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