§ 30-192 – Authorization for bond or collateral security
30-192. Authorization for bond or collateral security The governing or administrative body of an operating unit, if it finds the giving of the bond or pledge, or both, necessary or advisable and for the best public interest, may by two-thirds vote of its members at any regular or special meeting, pass and adopt a resolution […]
§ 30-193 – Provisions of bonds; powers of operating unit
30-193. Provisions of bonds; powers of operating unit Indemnity or performance bonds or pledges may be in the form and contain terms, conditions and agreements as required by the pledgees to fulfill the purposes thereof within the broadest scope of this chapter. The governing body of the operating unit may enact, pass and adopt necessary […]
§ 30-201 – Administrative and operation budgets
30-201. Administrative and operation budgets A. The authority shall on or before September 30 each year adopt an administrative budget for the next succeeding fiscal year. The budget shall consist of an estimate of the expenditures that may be necessary to meet administrative requirements of the authority for the ensuing fiscal year. Economies resulting in […]
§ 30-202 – Appropriated and operation funds defined; debt reserve fund; application of general fiscal laws
30-202. Appropriated and operation funds defined; debt reserve fund; application of general fiscal laws A. Any funds made available to the authority by legislative appropriation shall be classified " appropriated funds." All other funds derived from operations or otherwise acquired or accruing to the authority shall be classified " operation funds." Appropriate classifications and designations […]
§ 30-203 – Receipt of monies; disbursements; operation of accounting system; annual audit
30-203. Receipt of monies; disbursements; operation of accounting system; annual audit A. Monies due the authority under agreements for the sale of electric power or other service, proceeds of revenue bond issues or any other obligations may be made payable at the office of the authority. All monies derived from operations of the authority of […]
§ 30-204 – Audit of operation funds and collateral deposits
30-204. Audit of operation funds and collateral deposits A. At the authority’s request, a district and state agencies authorized to issue revenue bonds subject to approval of the state certification board shall cause an audit to be made of their respective operation funds. Districts, state agencies and municipalities pledging any assessments, funds or property presently […]
§ 30-221 – Authority to issue revenue bonds
30-221. Authority to issue revenue bonds A. When the authority finds other financing methods or procedure inadvisable, inadequate or insufficient to acquire or construct transmission lines, projects, works or facilities, it may independently or in conjunction with any other optional or alternative plans provided in this chapter issue bonds as provided by this article.
§ 30-222 – Prerequisites to issuance
30-222. Prerequisites to issuance No revenue bonds shall be issued until provision is made by power or transmission purchase contracts in accordance with the provisions of this chapter adequate in the judgment of the authority to insure all necessary fiscal reserves, operation costs, maintenance and depreciation charges and payment of principal and interest of any […]
§ 30-226 – Issuance of bonds; provisions of bonds
30-226. Issuance of bonds; provisions of bonds A. Bonds issued under this article shall be authorized by resolution of the authority and may be issued in one or more series, shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, not exceeding nine per cent per […]
§ 30-227 – Additional provisions of bonds; certification by attorney general; sale
30-227. Additional provisions of bonds; certification by attorney general; sale A. The authority may provide for reimbursement to the holder of all expenses of litigation and attorney fees incurred in collection of the bonds in the event of default, and may provide for and fix the powers and duties of a trustee if necessary to […]