HB 2256 Summary

• Amends Arizona Revised Statutes section 35-494 to clarify that contracts for employing registrars and paying agents are deemed long-term obligations under the Arizona Constitution.

• Adds the word "for" to the statute to improve grammatical clarity in the contractual language regarding bond-related obligations.

• Designates these contracts as long-term obligations within the meaning of Article IX, Sections 18 and 19 of the Arizona Constitution.