Arizona Laws 9-533. Validity of bonds
A. Bonds issued under this article and bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers of the municipality issuing the bonds.
Terms Used In Arizona Laws 9-533
- Dependent: A person dependent for support upon another.
- Municipality: means any incorporated city or town. See Arizona Laws 9-521
- Utility undertaking: means any one or combination of the following:
(a) Electric light or power, water, storm water, sewer, gas, common carrier of passengers, garbage, or rubbish plant or system, including but not limited to disposal, treatment or reduction plants, buildings, incinerators, dams and reservoirs. See Arizona Laws 9-521
B. The validity of the bonds shall not be dependent on or affected by the validity or regularity of any proceedings relating to the construction, acquisition, improvement, reconstruction or extension of the utility undertaking financed by the bonds or taken in connection therewith.