Arizona Revised Statutes Title 48. Special Taxing Districts § 48-6282. Investment of monies in debt service account

A. The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by § 48-6283.

B. The order directing an investment shall state a date on which the monies and other resources in the debt service account will be needed for use, and the fiscal agent shall make the investment in such a way as to mature on or before the specified date.

C. All monies earned as interest or otherwise derived from the investment of the monies in the debt service account shall be credited to the district's general fund and applied to bond debt as it accrues.