The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
11-276 - Redemption of bonds; notice; effect of failure to present bonds
11-276. Redemption of bonds; notice; effect of failure to present bonds
When, after setting aside the amount required to pay the interest maturing before the next levy, the debt service fund is sufficient to redeem one or more bonds, the treasurer shall notify the bond owners in writing that he is prepared to pay them, with the accrued interest, and that if not presented for payment or redemption within forty days after the date of the service or mailing of the notice, the interest on the bond shall cease. If the bonds are not so presented, interest shall cease and the amount due shall be set aside for its payment when presented. Payment of bonds shall be made in the order of their issuance, beginning at the lowest number. The notice required by this section shall be directed to the address of the owner as shown by the record.