17-286 - Arizona Statutes

17-286. Certification of bonds by attorney general A. The commission shall submit to the attorney general any initial bond to be offered after all actions for the authorization of the bond have been taken by the commission. The attorney general shall examine into and pass upon the validity of any bond submitted and the regularity of all proceedings in connection with the bond. If the attorney general determines that the proceedings conform to the provisions of this article and that the bond, when delivered and paid for, will constitute a binding and legal obligation of the commission, the attorney general shall certify on the bond or any certificate used to indicate ownership that the bond is issued in accordance with the constitution and laws of this state. B. The commission may submit to the attorney general any subsequent bond to be offered after all actions for the authorization of the bond have been taken by the commission if the terms of the bond are substantially the same as the terms of the initial bond reviewed pursuant to subsection A of this section. The attorney general shall examine into and pass on the validity of any bond submitted and the regularity of all proceedings in connection with the bond. If the attorney general determines that the proceedings conform to the provisions of this article and that the bond, when delivered and paid for, will constitute a binding and legal obligation of the commission, the attorney general shall certify on the bond or any certificate used to indicate ownership that the bond is issued in accordance with the constitution and laws of this state.