Arizona Laws 5-1164. Issuance and sale of bonds
Terms Used In Arizona Laws 5-1164
- Authority: means a sports authority established pursuant to this chapter. See Arizona Laws 5-1101
- Authority board: means the governing board of the sports authority. See Arizona Laws 5-1101
- Board of directors: means the county board of supervisors serving as the board of directors of the district. See Arizona Laws 5-1101
- Bond: means any obligation authorized and issued pursuant to this article, including:
(a) Bonds and notes. See Arizona Laws 5-1161
- District: means a sports authority district established pursuant to this chapter. See Arizona Laws 5-1101
- Process: means a citation, writ or summons issued in the course of judicial proceedings. See Arizona Laws 1-215
(Conditionally Rpld.)
A. The authority board shall issue the bonds in the number and amount provided in the resolution. The authority board shall provide published notice within fifteen days to the public and to the district board of directors of its intention to issue bonds.
B. The bonds may be sold by competitive public sale, through an online bidding process or at negotiated sale for public or private offering at the price and on the terms prescribed in the resolution. For the purposes of this subsection, "online bidding process" means a procurement process in which the board receives bids electronically over the internet in a real-time, competitive bidding event.
C. The proceeds from the sale of the bonds shall be deposited in the bond proceeds account established pursuant to section 5-1165.
D. Title 35, chapter 3, article 7 applies to the authority board and to bonds issued under this article.