Insolvency of District | Midpage

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Arizona Revised Statutes

Article 12

Insolvency of District

48-3241Petition for hearing where district in default on financial obligations; notice of hearing 48-3242Meeting of bondholders with board of directors; selection of committee; voting 48-3243Bondholders' agreement; failure to agree within one year 48-3244Submission of bondholders' agreement to superior court by petition 48-3245Publication of bondholders' agreement; filing of dissents to agreement 48-3246Failure to file dissent deemed acceptance of agreement 48-3247Hearing; judgment 48-3248Procedure in court action; appeal to supreme court; costs 48-3249Abrogation of agreement by failure to deposit fifty-one per cent of bonds 48-3250Change in terms of agreement; effective date 48-3251Permissive deposit of bonds with treasurer 48-3252Expenses of committee; payment 48-3253Powers of committee in enforcing agreement 48-3254Abrogation of agreement and discharge of committee when bond obligations discharged; discharge of individual from tax liability by payment of proportionate liability 48-3255Partial payment of bonds and interest 48-3256Acceptance of bond interest coupons by committee