§ 41-5760 – Investment of monies in school facilities revenue bond debt service fund
41-5760. Investment of monies in school facilities revenue bond debt service fund A. The board may authorize the state treasurer or bond trustee to invest and reinvest any monies in the school facilities revenue bond debt service fund as provided by section 41-5761. B. All monies earned as interest or otherwise derived from the investment […]
§ 41-5761 – Authorized investments of fund monies
41-5761. Authorized investments of fund monies A. On notice from the board, the state treasurer or bond trustee shall invest and divest monies in either the school facilities revenue bond proceeds fund or the school facilities revenue debt service fund in any of the following: 1. Obligations issued or guaranteed by the United States or […]
§ 41-5762 – Characteristics of bonds; negotiable; exemption from taxation; obligation; legal investments
41-5762. Characteristics of bonds; negotiable; exemption from taxation; obligation; legal investments A. Bonds issued under this article are fully negotiable within the meaning and for all purposes of the uniform commercial code, subject only to any provisions for registration, regardless of whether the bonds actually constitute negotiable instruments under the uniform commercial code. B. The […]
§ 41-5763 – Effect of changing circumstances on bonds; agreement of state
41-5763. Effect of changing circumstances on bonds; agreement of state A. Bonds issued under this article remain valid and binding obligations of the board notwithstanding that, before the delivery of the bonds, any of the persons whose signatures appear on the bonds cease to be members of the board. B. An amendment of any provision […]
§ 41-5764 – Validity of bonds; certification by attorney general
41-5764. Validity of bonds; certification by attorney general A. This article constitutes full authority for authorizing and issuing bonds without reference to any other law of this state. No other law with regard to authorizing or issuing obligations or that in any way impedes or restricts performing the acts authorized by this article may be […]
§ 41-5755 – Securing principal and interest
41-5755. Securing principal and interest A. In connection with issuing bonds authorized by this article and to secure the principal and interest on the bonds, the board by resolution may: 1. Segregate the school facilities revenue bond debt service fund into one or more accounts and subaccounts and provide that bonds issued under this article […]
§ 41-5756 – Lien of pledge
41-5756. Lien of pledge A. Any pledge made under this article is valid and binding from the time when the pledge is made. B. The monies so pledged and received by the board to be placed in the school facilities revenue bond debt service fund are immediately subject to the lien of the pledge without […]
§ 41-5757 – Bond purchase; cancellation
41-5757. Bond purchase; cancellation The board may purchase bonds for cancellation out of any monies available for the purchase, at a price of not more than either of the following: 1. If the bonds are redeemable at the time of the purchase, the applicable redemption price plus accrued interest to the next interest payment date […]
§ 41-5758 – Payment of revenue bonds
41-5758. Payment of revenue bonds A. The revenue bonds shall be paid solely from monies from the school facilities revenue bond debt service fund established by section 41-5754 and other monies that are credited to the school facilities revenue bond debt service fund. B. The state treasurer or the paying agent for the revenue bonds […]
§ 41-5759 – Investment of monies in school facilities revenue bond proceeds fund
41-5759. Investment of monies in school facilities revenue bond proceeds fund A. As provided by section 41-5761, the board may authorize the state treasurer or bond trustee to invest monies in the school facilities revenue bond proceeds fund established by section 41-5753. B. The order directing an investment shall state a specified time when the […]