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1984 Arizona Attorney General Reports and Opinions 1 (1984)

handle is hein.sag/sagaz0007 and id is 1 raw text is: A ttvrneij &neral-

1275 WEST WASHINGTON
Phpuenix, Arizona 85007
fRobert J.(lri
January 4, 1984
Douglas R. Norton, C.P.A.
Auditor General
111 West Monroe, Suite 600
Phoenix, Arizona 85003
Re: 184-001 (R83-0.97)
Dear Mr. Norton:
This letter is in response to your letter of July 13,
1983, in which you asked the following question:
Assuming that all other statutory
requirements are met, must the sale of
refunding bonds by a school district be made
as a public sale, utilizing sealed
competitive bidding procedures, or may the
sale be negotiated with one investmenIt
organization or group without following a
bidding process?
For the reasons set forth below, we conclude that the
pertinent statutes and, in particular, A.R.S. § 35-471 et seg.,
do not require that school district refunding bonds be bid
pursuant to the competitive bid process prior to sale.
The original issuance of bonds by school districts is
governed by A.R.S. § 15-1021 et seq. A.R.S. § 15-1024 requires
that original issue school district bonds bear interest at
rates set by the accepted bid for not less than par. Likewise,
A.R.S. § 35-457 which pertains to the original issuance of
bonds by a county, city, town or other similar municipal
corporation1' requires that the bonds be awarded to the
highest and most responsible bidder at not less than par with
accrued interest.
1.   Until 1980 A.R.S. § 35-451 et seg. also applied to the
original issuance of school district bonds. However, school
districts were deleted from that statute by Laws 1980, 2nd
S.S., Ch.8, § 21.

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