§ 37-59-27. Maturities of bonds; interest rates; execution of bonds; maintenance of register of bond issues
All bonds issued by a school district shall mature annually, with all maturities not longer than twenty (20) years. Not less than one-fiftieth (1/50) total issue shall mature each year during the first five (5) years of the life of such bonds, and not less than one-twenty-fifth (1/25) of the total issue shall mature each […]
§ 37-59-29. Disposition of proceeds of bonds; liability for diversion of funds
The proceeds of any bonds issued by a school district shall be placed in the county or municipal treasury or depository, as the case may be, if there be one, as a special fund, and shall be used for no other purpose than that for which such bonds were authorized to be issued. If the […]
§ 37-59-3. Purposes for which bonds may be issued
The school board of any school district is authorized to issue negotiable bonds of such school district to raise money for the following purposes: Purchasing, erecting, repairing, equipping, remodeling and enlarging school buildings and related facilities, including gymnasiums, auditoriums, lunch rooms, vocational training buildings, libraries, teachers’ homes, school barns, transportation vehicles and garages for transportation […]
§ 37-59-5. General limitation of indebtedness
No school district shall, except as provided in Section 37-59-7, hereafter issue bonds for the purposes authorized by law in an amount which, added to all of its then outstanding bonded indebtedness, shall result in the imposition on any of the property in such district of an indebtedness for school purposes of more than fifteen […]
§ 37-59-7. Issuance of bonds in amount exceeding limitation of Section 37-59-5
Any school district in which the total number of pupils enrolled at any one time during the school year shall have increased by at least twenty percent (20%) or an average of three hundred fifty (350) or more annually within the preceding five (5) years, shall not issue bonds for the purposes authorized by law […]
§ 37-59-9. Bonds and notes excluded for purposes of computing limitations of indebtedness
No bonds or negotiable notes issued by any school district in order to comply with the provisions of Section 37-47-15, shall be included in computing the debt limits established in Sections 37-59-5, 37-59-7.
§ 37-59-11. Adoption of bond issue resolution; requirement of election on issuance of bonds
Before any money shall be borrowed under the provisions of this chapter, the school board of the school district shall adopt a resolution declaring the necessity for borrowing such money, declaring its intention to borrow such money and to issue the negotiable bonds of the school district as evidence of same, specifying the approximate amount […]
§ 37-59-13. Notice of election
Where an election has been called, as provided in Section 37-59-11, notice of such election shall be signed by the president of the school board and shall be published once a week for at least three (3) consecutive weeks, in at least one (1) newspaper published in such school district. The first publication of such […]
§ 37-59-15. Conduct of election
Such election shall be held upon order of the school board, as far as is practicable, in the same manner as other elections are held in such county or municipality. At such election, all qualified electors of such school district may vote. The ballots used at such election shall have printed thereon a brief statement […]
§ 37-59-17. Determination of results of election; time period for issuance of bonds
When the results of the election on the question of the issuance of such bonds shall have been canvassed by the election commissioners of such county or municipality, and certified by them to the school board of the school district, it shall be the duty of such school board to determine and adjudicate whether or […]