SEEL FLOOR AMENDMENT
HOUSE OF REPRESENTATIVES AMENDMENTS TO S.B. 1164
(Reference to Senate engrossed bill)
Page 1, between lines 1 and 2, insert:
"Section 1. Title 48, chapter 14, article 1, Arizona Revised Statutes, is amended by adding section 48-2011.03, to read:
48-2011.03. Issuance of bonds; notice; hearing
Notwithstanding any other law, a sanitary district may issue bonds that refinance existing debt and that mature over a period of forty-one years only if the sanitary district complies with both of the following before issuance of the bonds:
1. The new bonds do not cause an increase in the sanitary district's bonding capacity.
2. The sanitary district's board of directors holds a public hearing regarding the issuance of the bonds. The sanitary district's board of directors shall provide public notice of the hearing as otherwise prescribed by law."
Renumber to conform
Amend title to conform
Carl Seel |