OfferorsmustagreeandbeabletoperformanyorallofthedutiesofreceiverasspecifiedinA.R.S.15‐103.
15‐103.Schooldistricts;financialmismanagement;intervention;definitions
Thestateboardofeducationshallreviewallegationsofschooldistrictinsolvencyandgrossmismanagement.Thestateboardshallgivetheschooldistrictanopportunitytorespondtotheseallegationsatapublicmeeting.Ifthestateboarddeterminesthattheschooldistrictisinsolventorhasgrosslymismanageditsfinances,thestateboardshallappointareceiverforthatschooldistrict.