§ 37-59-115. Limitation of indebtedness
The indebtedness incurred under the authority of this article shall not be included in computing the statutory limitation upon the indebtedness which may be incurred by school districts as provided in Article 1 of this chapter, or any other statute, but shall be in addition thereto. The only limitation upon the amount of indebtedness which […]
§ 37-59-301. Authority of school districts to secure interest-free treatment of debt under federal law; construction of section
Notwithstanding any law or any provision of any law to the contrary, the following additional and supplemental powers and authorizations are hereby granted to each public school district in connection with the issuance of any debt, as defined herein. For purposes of this section, “debt” means any note, bond, lease or other evidence of indebtedness […]
§ 37-59-105. Declaration of intention by local authorities; election; issuance of indebtedness
The said resolution adopted by the school board pursuant to Section 37-59-103 shall be published once each week for two (2) consecutive weeks in a newspaper having a general circulation in the school district involved, with the first publication thereof to be made not less than fifteen (15) days prior to the date upon which […]
§ 37-59-107. Annual levy of special tax
The levying authority for the school district shall annually levy a special tax on all of the taxable property of the school district on whose behalf the notes or certificates of indebtedness are issued, except as provided in Section 37-7-104.3(7), in an amount which shall be sufficient to pay the principal of and interest upon […]
§ 37-59-109. Procedure for issuance of bonds where district lies in two or more counties; levy of special tax
If the school district on whose behalf money is to be borrowed under the provisions of this article shall lie in two (2) or more counties, said school board shall take all steps required by this article in the issuance of the negotiable notes or certificates of indebtedness of the district without regard to county […]
§ 37-59-111. Execution of negotiable notes or certificates of indebtedness; interest; maturity
All indebtedness incurred under the provisions of this article shall be evidenced by the negotiable notes or certificates of indebtedness of the school district on whose behalf the money is borrowed.Said notes or certificates of indebtedness shall be signed by the president of the school board and superintendent of schools of such school district.Such notes […]
§ 37-59-113. Disposition of proceeds of notes or certificates; disposition of balance of proceeds
The proceeds of any negotiable notes or certificates of indebtedness issued under the provisions of this article shall be placed in a special fund and shall be expended only for the purpose or purposes for which they were issued as shown by the resolution authorizing the issuance thereof. If a balance shall remain of the […]
§ 37-59-41. Borrowing of money in anticipation of taxes for benefit of agricultural high schools
The board of trustees of any agricultural high school shall have the power and authority to borrow money for the current expenses of such agricultural high school in anticipation of the collection of ad valorem taxes for the current fiscal year. The money so borrowed shall bear interest at a rate not greater than that […]
§ 37-59-43. Investment of surplus funds
Whenever any school district or levying authority, as defined in Section 37-57-1(1)(b), acting on behalf of a school district, shall have on hand any bond and interest funds, any funds derived from the sale of bonds, or any other funds in excess of the sums which will be required for payment of current obligations and […]
§ 37-59-45. Article as sole authority for incurring of indebtedness
No interest-bearing indebtedness shall hereafter be incurred by any such school district except in the manner provided in this article or as may otherwise be provided by law.