§ 35-601 – Definitions
35-601. Definitions For the purposes of this article: 1. " Federal bankruptcy statute" means the act of Congress entitled, " An act to establish a uniform system of bankruptcy throughout the United States, " approved July 1, 1898, as amended or supplemented. 2. " Taxing district" means a " taxing district" as defined in the […]
§ 35-602 – Exercise of powers
35-602. Exercise of powers All powers granted by this article to taxing districts may be exercised by such districts, or, if such districts have no officers of their own, may be exercised by the officers who have the authority to contract on behalf of such districts, or to levy special assessments or special taxes within […]
§ 35-603 – Filing petition; payment of expenses
35-603. Filing petition; payment of expenses Any taxing district in this state is authorized to file the petition provided for in the federal bankruptcy statute and to incur and pay the expenses thereof and any and all other expenses necessary or incidental to the consummation of the plan of readjustment contemplated in such petition or […]
§ 35-604 – Resolution authorizing filing of petition and representation of district by attorney
35-604. Resolution authorizing filing of petition and representation of district by attorney Before the filing of the petition referred to in section 35-603, the taxing district shall adopt a resolution authorizing the filing thereof and authorizing its duly and regularly elected or appointed attorney, or special counsel appointed for such purpose, to file the petition […]
§ 35-605 – Powers of taxing district
35-605. Powers of taxing district Any taxing district is authorized and empowered to take any and all action necessary to carry out any plan of readjustment contemplated in the petition, or as such petition is modified from time to time, subject only to the provisions of the constitution of this state, any other provision of […]
§ 35-606 – Resolution of district assenting to plan as prerequisite of final decree of court becoming effective
35-606. Resolution of district assenting to plan as prerequisite of final decree of court becoming effective No final decree or order of the United States district court confirming a plan of readjustment shall be effective for the purpose of binding the taxing district unless and until the taxing district files with the court a certified […]
§ 35-607 – Powers of district to consummate plan; issuance of refunding bonds; hearing upon resolution; notice
35-607. Powers of district to consummate plan; issuance of refunding bonds; hearing upon resolution; notice A. Upon filing a certified copy of the resolution as provided by section 35-606, the taxing district may consummate the plan of readjustment, and in doing so, shall have the following powers and duties: 1. To cancel in whole or […]
§ 35-608 – Purpose of article
35-608. Purpose of article This article shall not affect any other law covering the same subject matter, or apply to any proceedings thereunder, but is intended to and does provide, among other matters, an alternative system for refunding bonds pursuant to the provisions of, and in conjunction with, the federal bankruptcy statute.