48-1048 - Arizona Statutes

48-1048. Dissolution of district A. When the district board certifies that the rural road improvements for which the district was formed are completed and comply with county standards, the district board shall dissolve the district. B. On dissolution of the district all assets of the district are transferred to the county. C. All taxable property in the district remains subject to taxes for the payment of the principal or any interest on outstanding general obligation bonds notwithstanding dissolution of the district, and the county shall continue to levy such taxes against property in the dissolved district sufficient to produce revenue necessary to pay debt service on the bonds.