reglab/statecodes huggingface dataset:
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3206 - Payment of bonds and interest

48-3206.
Payment of bonds and interest
A. The bonds and the interest thereon shall be paid by revenue derived from an annual assessment and levy of taxes upon the real property of the district,  and the real property of the district shall be liable to taxation for such payments.
B. Any parcel of land in the district,  upon payment made at any time before maturity of such bonds of that proportion of the bonded indebtedness of the district which the acreage of the parcel of land bears to the total bonded acreage of the district,  together with interest on such amount up to the next following interest-paying day,  shall be released and discharged from the further levy of taxes for payment of the principal and interest of the bonds of the district then outstanding,  except as otherwise provided for a tax levy in event of default at maturity of bonds.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3211 - Construction of article

48-3211.
Construction of article
The powers conferred by this article are in addition and supplemental to the powers conferred by any other law. It is the purpose and intent of this article to create full and complete additional and alternate methods for the exercise of such powers. Insofar as the provisions of this article are inconsistent with the provisions of any existing law,  the provisions of this article control. This article is necessary for and to secure the public health,  safety,  convenience and welfare of the owners and occupants of lands lying within the boundaries of the district and shall be liberally construed to effect its purposes.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3212 - Definitions

48-3212.
Definitions
In this article,  unless the context otherwise requires:
1. " Bonds"  means revenue bonds and includes notes if applicable.
2. " Undertaking"  means for the purpose of this article the purchase,  construction,  leasing or acquisition of any real or personal property,  works or facilities which the district is authorized by law to purchase,  construct,  lease or otherwise acquire,  or the improvement,  reconstruction,  extension or addition to any real or personal property,  works or facilities owned or operated by the district,  or any program of development involving real or personal property,  works or facilities which the district is authorized by law to purchase,  construct,  lease or otherwise acquire or the improvement,  reconstruction,  extension or addition to such program,  but does not include the acquisition by the exercise of the right of eminent domain or condemnation of any existing electrical works or electrical facilities.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3214 - Powers of district

48-3214.
Powers of district
In exercising the powers granted or permitted by law,  the district may:
1. Issue its bonds to finance all or part of the costs of any undertaking.
2. Pledge to the punctual payment of the bonds and interest thereon the revenue of the district,  or any part thereof,  or all or any part of the revenue from the undertaking,  including improvements or extensions thereafter constructed or acquired,  sufficient to pay the bonds and interest as they become due,  and to create and maintain reasonable reserves therefor. The board of directors,  in determining the cost of the undertaking,  may include all costs and estimated costs of the issuance of the bonds,  all engineering,  inspection,  fiscal and legal expenses,  and interest which it is estimated will accrue on money borrowed or which will be borrowed during the construction period and for such period thereafter as the board may determine,  initial reserve funds for debt service and working capital,  the costs of the services of agents or persons,  corporations,  firms,  partnerships or associations,  employed,  or consultants,  advisors,  engineers or fiscal,  financial or other experts in the planning,  preparation,  supervision and financing of such undertaking.
3. Fix,  levy and collect fees,  rentals or other charges for the use of or in connection with the services and facilities of the district or the undertaking,  and,  if any agreements with holders of bonds are made as may be provided by law,  to fix,  levy and collect such fees,  rentals and other charges in accordance with such agreements and subject thereto.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3215 - Revenue bonds

48-3215.
Revenue bonds
A. To undertake,  carry out and accomplish any of the purposes and powers of the district authorized or permitted by law,  the district may borrow money and issue its negotiable bonds therefor. No bonds may be issued unless authorized by a resolution of the board of directors adopted by an affirmative vote of a majority of its members,  which shall set forth a brief description of the undertaking to be accomplished,  the estimated cost thereof and the amount,  maximum rate of interest and time of payment of the bonds. Written notice of any meeting of the board for the purpose of taking action under this section shall be sent to all members thereof by certified mail at least ten days before the date of the meeting.
B. The principal of and interest on such bonds and premiums,  if any,  shall be payable solely from the revenue of the district,  or any part thereof,  or all or any part of the revenue from the undertaking,  as shall be pledged thereto in the authorizing resolution,  which may include,  if the resolution so provides,  revenue derived by reason of future improvements,  enlargements,  extensions or repairs thereto,  or revenues from the operation of all or part of the district or undertaking. No bond or coupon may be issued pursuant to this article for which taxes or assessments on or against the lands included in the district may be levied,  nor may payment thereof be enforceable out of any funds other than the revenue pledged to the payment thereof. Notwithstanding any other provision of law,  bonds issued under this article are not a lien on the real property in the district,  and neither such bonds nor the interest thereon may be payable from the levy of taxes on the real property in the district. No referendum or election is required for the issuance of bonds authorized in this article.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3216 - Forms of bonds

48-3216.
Forms of bonds
A. All bonds and coupons issued under this article are payable in lawful money of the United States and shall be payable in not exceeding fifty years from the date of the bond.
B. The bonds may be issued in one or more series,  bear such date or dates,  mature at such time or times not exceeding fifty years from their respective dates,  be in such denomination or denominations,  be in such form,  carry such registration,  exchangeability and interchangeability privileges,  be payable in such medium of payment and at such place or places,  within or without this state,  be subject to such terms of redemption before their express maturity at such time with or without premium,  be equally and ratably secured without priority,  or be entitled to or subject to such priorities on all or any portion of such revenues and receipts of the district or of the undertaking and contain such other terms,  conditions and covenants as the board of directors may adopt in the authorizing resolution.
C. The bonds shall bear interest at such rate or rates and are payable at such time or times and in such manner as the board of directors may determine by resolution.
D. The bonds shall be fully negotiable within the meaning of and for all the purposes of the law merchant and the uniform commercial code of this state,  subject only to the provisions of the bonds for registration. The bonds shall be signed by the president or vice-president and the secretary or assistant secretary of the district,  either manually or by their printed,  engraved or lithographed facsimile signatures,  except that at least one signature shall be manual,  with the seal of the district or a facsimile thereof affixed thereto,  as determined by resolution of the board of directors. The bonds of each issue shall be numbered consecutively and shall bear the date of their issue. Coupons for the several installments of interest shall be attached to each coupon bond and shall bear the facsimile signature of the secretary or the assistant secretary,  as determined by resolution of the board of directors. The bonds shall express on their faces that they are signed by authority of this article and shall state the title of the issue of which the bonds are a part.
E. Pending the preparation and delivery of definitive bonds,  the district may issue interim certificates or temporary bonds,  exchangeable for definitive bonds when such bonds are executed and available for delivery. The interim certificates or temporary bonds may contain terms and conditions as the board of directors may determine.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3217 - Adoption of resolution; trust agreement

48-3217.
Adoption of resolution;  trust agreement
For the purpose of this article,  the board of directors of any district by affirmative vote of a majority of its members may adopt a resolution relating to the exercise of the powers granted by this article and to any other matters necessary to effectuate the full intent and purpose of this article. In the discretion of the board of directors,  any bond issued pursuant to this article may also be secured by a trust agreement by and between the district and one or more corporate trustees or fiscal agents,  which may be any trust company or bank having the powers of a trust company within or without this state. Any such resolution adopted is effective on its adoption unless otherwise specified therein. Written notice of any meeting of the board for the purpose of taking action under this section shall be sent to all members of the board by certified mail at least ten days before the date of such meeting.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3219 - Bond anticipation notes

48-3219.
Bond anticipation notes
A district,  at any time after the issuance of bonds is authorized,  may borrow money for the purposes for which such bonds are to be issued in anticipation of the receipt of the proceeds of the sale of such bonds and within the authorized maximum amount of such bond issue. Bond anticipation notes shall be issued for all monies so borrowed under this section. Such notes may be issued for a period not exceeding one year and may be renewed from time to time for periods of not exceeding one year,  but each such note,  including renewals,  shall mature and be paid not later than the fifth anniversary of the date the original note was issued. Such notes shall be authorized by resolution of the board and shall be in such denomination or denominations,  shall bear interest at such rate or rates approved by the board of directors,  shall be in such form and shall be executed in such manner,  all as the board of directors shall prescribe. Such notes shall be sold at public or private sale or,  if such notes are renewal notes,  they may be exchanged for notes then outstanding on such terms as the board shall determine.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3219.01 - Sale of bonds

48-3219.01.
Sale of bonds
A. Bonds shall be sold at public or private sale,  as the board of directors may determine.
B. If the board of directors determines to sell such bonds at public sale,  notice of the sale shall be given by publication for at least three days in a newspaper of general circulation in the county in which the office of the board of directors is located,  and in such other newspaper as the board directs. The notice shall state that sealed bids will be received by the board at its office for the purchase of the bonds until the day and hour named in the resolution.
C. At the time appointed,  the board shall meet and open the bids and award the purchase of the bonds or reject any or all bids. The board,  by the resolution and notice,  may require a deposit or certified check as an evidence of good faith to accompany each bid for the bonds. The bonds may be sold at such price or prices as the board may determine.
D. The district secretary shall keep a record of the bonds sold,  their number,  the date of sale,  the price received and the name of the purchaser or purchasers.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3219.03 - Disposition of proceeds and other monies

48-3219.03.
Disposition of proceeds and other monies
All proceeds received from the sale of the bonds,  all fees,  rental or other charges received by the district from any undertaking financed by the bonds and all monies received from any source in connection with the bonds shall be used,  applied and disposed of as the board determines by its bond resolution or trust agreement.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3219.04 - Validity of bonds; nonliability of officers and directors

48-3219.04.
Validity of bonds;  nonliability of officers and directors
A. Bonds issued under this article and bearing the signature of officers in office on the date of the signing thereof are valid and binding obligations,  notwithstanding that,  before delivery and payment thereof,  any of the persons whose signatures appear thereon have ceased to be officers of the district issuing the bonds.
B. The validity of the bonds are not dependent on nor affected by the validity or regularity of any proceedings relating to the construction,  improvement,  reconstruction,  acquisition or extension of the undertaking financed by the bonds or acquired in connection therewith.
C. No member of the board of directors or officer of the district issuing bonds is liable personally on such bonds.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3219.05 - Bonds; legal investment

48-3219.05.
Bonds;  legal investment
Notwithstanding any other law,  all bonds,  including refunding bonds,  issued pursuant to this chapter are legal investments for savings banks,  banks,  savings and loan associations,  trust companies,  executors,  administrators,  trustees,  guardians and other fiduciaries,  and for any board,  body,  agency or instrumentality of this state,  or of any county,  municipality or other political subdivision of this state,  and are securities which may be deposited by banks,  savings and loan associations or trust companies as security for deposits of state,  county,  municipal and other public monies.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3226 - Payment of matured refunding bonds or coupons; cancellation of redeemed bonds

48-3226.
Payment of matured refunding bonds or coupons;  cancellation of redeemed bonds
A. When any refunding bonds mature the district treasurer shall give notice for four weeks in a newspaper published in the county in which the district is located of the intention to redeem such bonds,  stating the amount thereof. The redemption shall thereupon be made and all such bonds shall cease to draw interest at the expiration of four weeks after the date of notice. If the bonds called for redemption are not presented within three months from the date of notice,  the treasurer shall apply the money to the redemption of bonds next in the order of the number of their issue.
B. The interest coupons when due and payable shall be delivered to the treasurer who shall pay the interest and write the word " cancelled"  across the face thereof,  which shall be the treasurer's receipt for their payment. When any bonds are redeemed the treasurer shall in like manner mark them " cancelled"  on the face thereof,  over his signature,  and deliver them to the secretary of the district,  taking his receipt therefor,  and the secretary shall file them in his office and report that they have been filed to the directors.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3227 - Powers of board relating to refunding bonds; applicability of certain public finance laws

48-3227.
Powers of board relating to refunding bonds;  applicability of certain public finance laws
A. The board of directors shall,  with respect to the issuance of refunding bonds,  have full power and authority in all matters not set forth in this article to make all necessary provisions,  rules and regulations,  and to fix times,  methods and procedure,  and to take any and all steps necessary and proper for the issuance,  effectuation,  validity,  sale and delivery of refunding bonds.
B. The provisions of articles 3,  4 and 5,  chapter 3 of title 35 relating to public finance and county and municipal bonds,  so far as applicable and not in conflict with this article,  shall apply to refunding bonds and refunding bond procedure of irrigation districts.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3228 - Refunding of warrants and other indebtedness of district

48-3228.
Refunding of warrants and other indebtedness of district
A. In addition to the power to issue refunding bonds for refunding bonded indebtedness of an irrigation district,  the board of directors may also issue refunding bonds to refund district warrants,  judgments,  liens or other existing lawful indebtedness of the district.
B. Bonds issued under the provisions of this section may be made a part of the refunding bond issue under the provisions of this article or may be a separate issue as the board of directors may determine.
C. Bonds issued under this section shall be of equal priority and enforceability. The issuance of bonds under this section shall be governed by this article so far as applicable and not in conflict with the purposes of this section. The provisions of article 10 of this chapter relating to adoption of plans,  surveys and maps and the submission,  approval and hearing by the state certification board concerning the issuance of construction or original bonds shall not apply to bonds issued under this article.
D. This section shall be liberally construed,  and compliance with its provisions which does not adversely affect substantial rights of the owners of land within the district shall be deemed sufficient,  and any error,  omission or irregularity not adversely affecting such substantial rights shall be disregarded. The board of directors may,  in all matters relating to the issuance of bonds under this article,  make all necessary provisions,  rules and regulations,  take any and all steps necessary to effectuate the purpose of this article,  and do any and all things necessary and proper for the issuance,  effectuation,  validity,  sale,  delivery and payment of the bonds and the principal and interest thereof.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3242 - Meeting of bondholders with board of directors; selection of committee; voting

48-3242.
Meeting of bondholders with board of directors;  selection of committee;  voting
A. The holders of the bonds shall meet together with the board of directors of the district at the time and place of the meeting provided in the notice thereof,  organize and proceed immediately to the selection of a committee,  which shall be designated and function as (insert name of irrigation district affected) committee. The committee shall be composed of nine members,  three to be selected from and by the vote of holders of bonds present or represented and voting at the meeting,  three to be selected by the board of directors of the district from their own number,  and the remaining three to be the members of the state certification board. Vacancies in the representatives of the district on the committee shall be filled by the board of directors,  and vacancies in the bond representatives by the remaining members of the bondholders' representatives.
B. Each bondholder at all meetings of the bondholders authorized by this article or by the bondholders' agreement shall be entitled to one vote for each one dollar or major fraction thereof of the principal amount of the bonds held by him,  certified as provided by this article,  by the state treasurer. Votes may be cast in person or by proxy in writing,  signed and acknowledged as deeds are required to be acknowledged,  by the holder of the bonds,  the proxy having first been filed with and approved by the state treasurer. No holder of a bond shall be entitled to vote in person or by proxy unless he has first surrendered to and deposited with the state treasurer the bonds upon which he desires to vote,  to be held and dealt with by the state treasurer pursuant to the provisions of the bondholders' agreement and any amendments thereof.
C. Upon the convening of the meeting the state treasurer shall supply the meeting with a certified list of all bonds deposited with him,  the names of the holders thereof,  proxies approved and the number of votes each holder is entitled to cast in person or by proxy. The majority vote of all holders entitled to vote at the meeting in person or by proxy shall govern.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3243 - Bondholders' agreement; failure to agree within one year

48-3243.
Bondholders' agreement;  failure to agree within one year
A. Immediately upon selection the committee shall proceed to formulate a plan to be known as " bondholders' agreement"  in respect to the district affected and the continuance of its business and affairs in such manner as to restore its solvency at the earliest practicable date,  and shall consider matters affecting its feasibility,  including the character of the soil,  the water supply,  the topography,  the productive value of the lands,  in units of forty acres each,  and the economic costs of and the receipts from agricultural operations,  and may survey,  or cause to be surveyed,  any one or more of these factors.
B. When a plan is agreed upon,  it shall be reported to the meeting,  which may be adjourned from time to time until the report is received. The report of the committee may be amended by the meeting,  and shall be adopted or rejected,  separately,  by the majority vote of the full board of directors and majority-in-value vote of the bonds represented. In case of disagreement,  the negotiations for another basis of agreement may be continued,  and the meeting may be adjourned from time to time for a period not to exceed one year from the convening of the meeting. If such meeting is unable to agree upon the bondholders' agreement within such period the meeting shall stand adjourned sine die,  and the state treasurer shall return the bonds deposited with him to the respective holders thereof.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3244 - Submission of bondholders' agreement to superior court by petition

48-3244.
Submission of bondholders' agreement to superior court by petition
A. The bondholders' agreement shall empower the committee to execute,  and the committee shall be charged with the execution of,  the plan contained therein,  but no action,  except as expressly provided in this article,  shall be taken by the committee until the judgment of the superior court entered in the proceedings provided for in section 48-3247 has become final.
B. Immediately upon deposit with the state treasurer,  subject to the provisions of the bondholders' agreement and this article,  of bonds aggregating at least fifty-one per cent of the principal amount of all bonds of the district then outstanding,  for the purpose of obtaining constructive consent of the unknown holders of outstanding bonds of the district and the holders of bonds who have not deposited them with the state treasurer,  the board of directors of the district shall,  in the name and for and on behalf of the district,  file in the superior court in the county in which the office of the district is located a petition in rem,  verified by the oath of the president and secretary of the district,  which shall set forth the plan embodied in the bondholders' agreement for retiring or refunding the bonds of the district proposed to be retired or refunded. The petition shall recite the percentage in amount of the holders of the bonds to be retired or refunded who have deposited their bonds with the state treasurer,  and shall further set forth what steps have been taken to obtain the consent of all known holders of the bonds.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3245 - Publication of bondholders' agreement; filing of dissents to agreement

48-3245.
Publication of bondholders' agreement;  filing of dissents to agreement
A. Upon presentation of the petition to the judge of the superior court,  either in open court or in chambers,  the judge shall direct the district to publish,  and the district shall cause to be published,  as nearly concurrently as practicable,  for at least four consecutive weeks in a newspaper of general circulation published in the county in which the office of the district is located and in one financial journal of national circulation published in the city of New York,  designated by the court,  a notice describing in substance the terms of the bondholders' agreement under which the outstanding bonds of the district are to be surrendered,  refunded,  satisfied,  compromised,  exchanged or discharged. A certified copy of the notice and petition shall forthwith be served upon the state certification board and on the state treasurer.
B. The notice shall contain a general description of the bonds to be refunded or retired and the amount thereof,  and a general description of the refunding bonds,  if any,  to be issued under the terms of the bondholders' agreement,  and shall require all holders of outstanding bonds to be retired or refunded to file in such superior court their written dissent from or objection to the proposed plan of settlement described in the notice. If the dissent in writing is not filed within ninety days after the first publication of notice in the financial journal,  the owners and holders of outstanding bonds failing to file a dissent or objection shall be deemed to have consented to the terms and provisions of the bondholders' agreement and the provisions of this article.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3246 - Failure to file dissent deemed acceptance of agreement

48-3246.
Failure to file dissent deemed acceptance of agreement
After the expiration of ninety days from the date of the first publication of notice in such financial journal the holders of outstanding bonds failing to file their objections and protests with the court shall be deemed to have consented to refunding,  compromise or settlement of the bonds under the terms and provisions of the bondholders' agreement,  and such failure shall be equivalent to the acceptance in writing signed by the known consenting bondholders of outstanding bonds or the deposit with the state treasurer of the bonds owned and held by them subject to the provisions of the bondholders' agreement and this article.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3247 - Hearing; judgment

48-3247.
Hearing;  judgment
A. After the expiration of ninety days from the date of the first publication of the notice in such financial journal the board of directors shall file in the superior court a verified return of its acts under the order of the court theretofore made,  attaching thereto affidavits of the publishers of the newspaper and the financial journal of the publication of notice.
B. Thereupon the court,  or the judge thereof in chambers,  shall forthwith hear the matter and shall enter a judgment adjudging that all the owners and holders of the outstanding bonds to be retired or refunded under the terms of the bondholders' agreement who have not within ninety days after the date of the first publication of notice in the financial journal filed their written dissent and objection to the terms of the bondholders' agreement have consented that their bonds may be retired or refunded under the terms of the bondholders' agreement. In the judgment the court shall direct the officers of the district to deposit with the state treasurer,  as trustee for the persons entitled thereto,  the pro rata part of the cash or refunding bonds,  or both,  which under the terms of the bondholders' agreement belongs to the owners of such bonds whose consent was obtained under the provisions of section 48-3246. The judgment shall further provide that upon payment of the money or delivery of refunding bonds,  or both,  provided for in the bondholders' agreement to the state treasurer as trustee,  the bonds held by such holders shall be deemed paid,  and shall no longer be an obligation of the district,  and that upon the surrender to the state treasurer of the outstanding bonds,  together with unpaid interest coupons attached thereto,  the state treasurer shall pay or deliver upon demand to the holders their pro rata part of the monies or refunding bonds,  or both,  deposited with him as such trustee,  and shall mark the bonds cancelled and deliver them to the irrigation district.
C. All holders of outstanding bonds to be retired or refunded shall be deemed to have notice of all proceedings had relating thereto as provided by this article.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3248 - Procedure in court action; appeal to supreme court; costs

48-3248.
Procedure in court action;  appeal to supreme court;  costs
A. The procedure in the superior court under the provisions of this article shall be in the nature of an equitable proceeding in rem.
B. The court in inquiring into the regularity,  legality or correctness of the proceedings shall disregard any error,  irregularity or omission which does not affect the substantial rights of the parties,  and may approve the proceedings in part and disapprove the remainder thereof.
C. Holders of any outstanding bonds affected by the action taken as provided for in this article,  or any other interested party,  may appeal to the supreme court at any time within thirty days after rendition of the judgment of the superior court. The appeal shall be heard and determined within three months from the time the appeal is taken.
D. The costs of the proceedings and the appeal may be allowed and apportioned between the parties in the discretion of the court.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3249 - Abrogation of agreement by failure to deposit fifty-one per cent of bonds

48-3249.
Abrogation of agreement by failure to deposit fifty-one per cent of bonds
If the bonds of the district deposited with the state treasurer at the end of two years from the date of the adoption of the bondholders' agreement are less than fifty-one per cent of the principal amount of all bonds of the district then outstanding,  the bondholders' agreement shall be abrogated and the committee discharged,  and the state treasurer shall return any bonds theretofore deposited with him to the respective owners thereof.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3250 - Change in terms of agreement; effective date

48-3250.
Change in terms of agreement;  effective date
If the committee determines at any time that it is necessary or desirable to change or deviate from the terms,  conditions and proposals of the plan adopted and set forth in the bondholders' agreement,  it shall reduce the proposed change or deviation to writing and submit it to the board of directors for approval or rejection. If the proposed change or deviation is approved by the board of directors,  the committee shall mail a copy thereof,  postage prepaid,  to each bondholder who has deposited his bonds to the last known place of residence of the holder. The changes or deviations proposed by the committee and approved by the board of directors shall become a part of the bondholders' agreement and binding upon all bondholders who have not withdrawn their deposited bonds within thirty days from the date of the deposit of the copies of such notice in the United States post office at the city of Phoenix.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3252 - Expenses of committee; payment

48-3252.
Expenses of committee;  payment
A. The actual and necessary expenses of the bondholders' committee incurred in the performance of the duties imposed by this article or by the bondholders' agreement shall be paid as other operating expenses of the district. The total amount of such expenses shall not exceed one thousand dollars in a district having a total of ten thousand acres or less,  or fifteen hundred dollars if more than ten thousand but less than twenty thousand acres,  nor shall it exceed twenty cents per acre in a district having an acreage between twenty thousand and thirty thousand acres,  fifteen cents if between thirty thousand and forty thousand acres,  or ten cents if in excess of forty thousand acres.
B. If the district does not have funds available to meet such expenses currently and as needed,  the board of directors may from time to time borrow upon its warrants or promissory notes,  the amount required to meet such expenses,  bearing interest at a rate of not to exceed eight per cent per annum.
C. The board of directors may include in the next annual estimate of expenditures the necessary amounts for the payment and satisfaction of the loan,  warrants or promissory notes,  together with the interest accrued and the interest estimated to accrue to the time of payment.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3253 - Powers of committee in enforcing agreement

48-3253.
Powers of committee in enforcing agreement
Immediately upon the bondholders' agreement becoming effective,  the committee may perform,  enforce and carry out the terms and conditions of the bondholders' agreement,  with all of the powers expressed therein or implied therefrom.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3254 - Abrogation of agreement and discharge of committee when bond obligations discharged; discharge of individual from tax liability by payment of proportionate liability

48-3254.
Abrogation of agreement and discharge of committee when bond obligations discharged;  discharge of individual from tax liability by payment of proportionate liability
A. When all bond obligations of the district accrued or to accrue during the operation of the bondholders' agreement,  and the expenses incident thereto,  have been discharged in full,  and upon the certificate of the state treasurer to that effect filed with the state certification board,  the bondholders' agreement and the committee shall be abrogated and discharged,  and all rights and powers of the district restricted or suspended by the bondholders' agreement shall be restored.
B. When an agreement has been entered into and executed by and between the bondholders' committee and the board of directors as provided by this article,  or when any agreement is made by the board of directors and any group of bondholders acting individually or by a bondholders' committee,  whether or not organized under the provisions of this article,  whereby fifty-one per cent or more of such bondholders agree to accept in satisfaction of district bonds a stipulated price per acre,  then any landowner may,  if provided for in the agreement,  discharge his land from the tax liability for the payment of bond interest and bond principal by paying his proportion of the bond tax liens. Upon making payment of such proportionate liability there shall be issued to him by the bondholders' representative or a person designated in the agreement between the board of directors and the bondholders,  a satisfaction of the bond liability,  and the lands shall no longer be liable for the payment of bond principal or bond interest and shall be excluded from district assessments for such purposes. To the extent that the bond principal or bond interest is reduced by such individual payments,  the annual tax levy of the district shall be correspondingly reduced and the board of directors shall levy a district tax only for the unsatisfied portion of bond principal and bond interest.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3255 - Partial payment of bonds and interest

48-3255.
Partial payment of bonds and interest
Upon granting the petition and during the retention of jurisdiction by the committee,  if there are in the district treasury at any time funds available for the payment of bonds or interest thereon,  but such amount is not sufficient to pay all outstanding bonds,  interest coupons,  or both,  then due,  the funds shall be held until they amount to at least twenty per cent of the total due on all outstanding bonds and coupons and shall then be apportioned and paid to the holders of the bonds which are then on deposit with the state treasurer.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3256 - Acceptance of bond interest coupons by committee

48-3256.
Acceptance of bond interest coupons by committee
When the committee has acquired jurisdiction under this article,  and during the continuance thereof,  no bond interest coupon shall be received or accepted in payment or discharge of any district tax other than and except for the payment of taxes levied for the payment and satisfaction of bond interest or bond principal.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3401 - Owner defined

48-3401.
Owner defined
In this chapter,  unless the context otherwise requires,  " owner"  means the person who appears upon the records of the office of the county recorder as the holder of legal title in fee simple to land within the district. When it appears from the records of the clerk of the superior court of the county that such record owner is deceased and distribution of his estate has not been made,  the owner shall be deemed to be the executor or administrator of his estate if one has been appointed. Executors,  administrators,  guardians of estates of minors and incompetents and trustees holding legal title may sign any petition,  consent,  waiver or protest provided for by this chapter,  with the approval of the superior court in which the estate,  guardianship or trusteeship is pending. When a trusteeship exists without any proceeding pending in court,  the approval may be given by the superior court of the county in which the land is located upon written application therefor. No notice shall be required to be given by any executor,  administrator,  guardian or trustee of an application for the order of approval unless the court to whom the application is made shall so order.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3402 - Rights and powers of district

48-3402.
Rights and powers of district
A. Irrigation water delivery districts shall be bodies corporate for the purposes specified in this chapter and shall have the rights,  privileges and powers conferred by law,  but the districts shall not be considered municipal corporations.
B. The district shall have perpetual succession,  and may:
1. Exercise the power of eminent domain.
2. Contract and be contracted with.
3. Sue and be sued in its corporate name.
4. Acquire,  hold and dispose of,  for the benefit of the district,  all real and personal property which is necessary or useful in the conduct of its business.
5. Adopt a seal.
6. Provide by contract with any irrigation project,  or United States reclamation project,  for the performance of any service which it is authorized by this chapter to perform.
7. Do all things lawful and reasonably useful in carrying out the purposes of this chapter.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3421 - Authority to organize district; purposes

48-3421.
Authority to organize district;  purposes
When the owners of a majority of the acreage of lots or parcels,  contiguous or noncontiguous,  of land entitled to or capable of receiving irrigation water from the same ditch or ditch system,  pipe line or system of pipes desire to provide for the delivery of irrigation water to their lands,  they may propose the organization of an irrigation water delivery district under the provisions of this chapter.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3422 - Petition to organize district; inclusion of lands within another district

48-3422.
Petition to organize district;  inclusion of lands within another district
A. For the purpose of organizing an irrigation water delivery district as provided in this chapter,  a petition shall be filed in the office of the board of supervisors of the county in which the lands proposed to be organized are located. The petition shall contain:
1. A statement that it is the purpose of the petitioners to organize an irrigation water delivery district under the provisions of this chapter.
2. A general description of the proposed boundaries of the district or of the land proposed to be included in the district.
3. An estimate of the acreage to be included in the district.
4. The location at which irrigation water will be obtained.
5. The approximate distance and the means by which the water will be carried.
6. The names of three landowners within the district who shall constitute a committee to file the petition with the board of supervisors and represent the petitioners in the organization of the district.
B. The petition shall be signed by a majority of the owners of the acreage within the proposed district. Each signer shall set forth the description and approximate acreage of his land opposite his signature. Each signature shall be verified by the affidavit of the owner of the land within the proposed district who signs the petition.
C. No land shall be included in the proposed district which is included within any irrigation,  electrical or agricultural improvement district theretofore organized under the laws of the state without consent in writing of such district.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3423 - Notice of hearing; bond for expenses of organization

48-3423.
Notice of hearing;  bond for expenses of organization
A. When the petition is filed with the board of supervisors,  the board shall examine it and investigate the signatures thereon. If the board finds that the petition conforms to the provisions of this chapter,  it shall fix the amount of probable expenses which will be incurred in the organization of the district. The committee named in the petition shall thereupon give a bond,  subject to approval by the board,  for not less than twice the amount so fixed,  guaranteeing repayment to the county of such expenses. The expenses of organization shall be paid from county funds,  but if the district is not organized,  the county shall be reimbursed by the principals and sureties on the bond. If the district is organized,  the expenses shall become a charge against the district and paid as soon as funds are available.
B. Upon approval of the bond the board shall set the petition for hearing at a time not less than twenty nor more than forty days thereafter,  and shall publish the petition,  together with notice of the date fixed for hearing thereof,  not less than twice,  the last publication to be not less than ten days before the hearing,  in a daily or weekly newspaper published in the county. The board shall post not less than five copies of the petition,  together with notice of the date of the hearing,  for every one hundred acres or fraction thereof within the proposed district,  not less than fifteen days before the hearing at conspicuous places within the proposed district.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3424 - Hearing; order of board; completion of district organization

48-3424.
Hearing;  order of board;  completion of district organization
A. At the time fixed for the hearing,  any owner of land within the proposed district may appear and object to the organization thereof,  or to the proposed boundaries thereof,  or to the inclusion of his land therein. The board of supervisors shall hear and consider all of the objections,  may continue the hearing from time to time and at the conclusion of the hearing shall make its findings in writing. In the findings it may refuse to organize the district,  may declare that it intends to organize the district with the boundaries proposed in the petition or may declare that it intends to modify the proposed boundaries and proceed to organize the district with the modified boundaries.
B. If the board decides to proceed,  it shall publish and post in the same manner provided for publishing and posting the petition and notice of hearing,  a notice stating that it has decided to proceed with the organization of the district,  briefly describing the boundaries thereof or the lands to be included within the district as determined by it,  and fixing a date not less than twenty days after completion of publication and posting,  on or before which a written protest against the organization of the district may be filed by the owners of a majority of the acreage within the district.
C. If such protest is filed,  the district shall not be organized. If no protest is filed,  or if one is filed and found insufficient by the board of supervisors,  an order shall be entered by the board declaring the district organized,  describing the boundaries or all the lands included in the district,  and appointing three trustees to serve until the first biennial election and until their successors are elected and qualified.
D. The order and a map of the district shall be recorded in the office of the county recorder,  whereupon the organization of the district shall be completed. Such districts as organized shall be designated by consecutive numbers in the order of their organization according to counties.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3425 - Immediate organization of district on filing petition signed by all landowners

48-3425.
Immediate organization of district on filing petition signed by all landowners
When a petition filed as provided in section 48-3422 purports to be signed by the owners of the entire acreage in the proposed district and the board of supervisors finds that it is in fact signed by the owners of all of the acreage,  the board may immediately enter an order declaring the district duly organized. The order shall have the same effect as if entered pursuant to section 48-3424.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3426 - Time limitation upon filing action attacking validity of district organization

48-3426.
Time limitation upon filing action attacking validity of district organization
The validity of the organization of the district shall not be questioned in any court,  except by the state,  unless the action questioning the validity is filed within one year after the order declaring the district organized is filed in the office of the county recorder.
2023 Arizona Revised Statutes › Title 48 - Special Taxing Districts › § 48-3427 - Inclusion or exclusion of lands; consolidation of districts

48-3427.
Inclusion or exclusion of lands;  consolidation of districts
A. Upon application signed by a majority of the board of trustees and by the owners of the lands proposed to be admitted or excluded,  additional lands may be included in or excluded from the district by order of the board of supervisors.
B. Upon application signed by a majority of the board of trustees of each district,  the board of supervisors may enter an order consolidating two or more districts. The order shall be recorded in the office of the county recorder.