15-1031. Power to use outstanding bond
authorizations of common school districts or high school
districts
A. All outstanding authorizations permitting the issuance of bonds, as provided in
this section and sections 15-1022 through 15-1030, or the incurring of debt by a common
school district or a high school district at the time either such district becomes part
of a unified school district, shall remain in full force and effect. The unified school
district shall be vested with all powers to act for and on behalf of such common school
district or high school district to issue the bonds for the purposes for which such
authorizations were granted. The school district governing board may submit the bonds
for approval by the attorney general.
B. The bonds shall be issued pursuant to this section, chapter 4, article 5 of this
title and sections 15-1021 through 15-1030 except that the effect of the bonds issued
pursuant to this section shall be the same as if the questions pertaining to the issuance
of the bonds had been submitted to and approved by the electors of the unified school
district after its formation.
C. The provisions of this section shall not be construed as authorizing
indebtedness in excess of the percentage limitation as prescribed for a unified school
district in article IX, section 8.1, Constitution of Arizona.
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