A.R.S. § 48-3246: Failure to file dissent deemed acceptance of agreement

After the expiration of ninety days from the date of the first publication of notice in such financial journal the holders of outstanding bonds failing to file their objections and protests with the court shall be deemed to have consented to refunding, compromise or settlement of the bonds under the terms and provisions of the bondholders' agreement, and such failure shall be equivalent to the acceptance in writing signed by the known consenting bondholders of outstanding bonds or the deposit with the state treasurer of the bonds owned and held by them subject to the provisions of the bondholders' agreement and this article.