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Senate Engrossed |
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State of Arizona Senate Fiftieth Legislature Second Regular Session 2012
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SENATE BILL 1379 |
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AN ACT
amending title 41, chapter 1, article 4, Arizona Revised Statutes, by adding section 41‑175; relating to the arizona CENTENNIAL freedom coin.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 41, chapter 1, article 4, Arizona Revised Statutes, is amended by adding section 41-175, to read:
41-175. Arizona centennial freedom coin; design; production
A. The state treasurer may design, produce and sell 99.9 per cent pure gold, silver and copper coins, with weights that do not exceed one troy ounce. The coins shall be two-sided disks of not more than five millimeters in thickness, shall have the seal of the state of Arizona struck on one side and shall have a representation of the Arizona state flag struck on the other side along with the text "Arizona centennial freedom coin – February 14, 1912 – 2012" and the weight of the disk in fractions of troy ounces or grams.
B. The department of weights and measures shall certify the weight and purity of the centennial freedom coins.
C. The state treasurer shall negotiate the manufacture and sale, which may include a prepayment requirement for purchase, of the centennial freedom coins. The sale price of the coins shall not be more than ten per cent higher than the manufacturing cost of the coins or ten per cent higher than the current value of the gold, silver or copper, whichever is greater. Manufacturing quantity shall be produced to meet ongoing prepaid public demand. The state treasurer shall deposit proceeds from the sale of centennial freedom coins in the state general fund.