§ 41-5782 – Issuance and sale of school improvement revenue bonds
41-5782. Issuance and sale of school improvement revenue bonds A. The board shall issue the school improvement revenue bonds in the number and amount provided in the resolution. B. The bonds shall be sold at public or private sale at the price and on the terms prescribed in the resolution at, above or below par. […]
§ 41-5783 – School improvement revenue bond proceeds fund; use for school improvements
41-5783. School improvement revenue bond proceeds fund; use for school improvements A. If the board issues revenue bonds under this article, the board shall establish a school improvement revenue bond proceeds fund consisting of the net proceeds received from the sale of the bonds. B. The board may use monies in the school improvement revenue […]
§ 41-5784 – School improvement revenue bond debt service fund
41-5784. School improvement revenue bond debt service fund A. The board shall establish a school improvement revenue bond debt service fund consisting of monies received by the board pursuant to section 42-5029, subsection E and section 37-521, subsection B, paragraph 1. All monies received pursuant to section 42-5029, subsection E shall be accounted for separately […]
§ 41-5785 – Securing principal and interest
41-5785. 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 improvement revenue bond debt service fund into one or more accounts and subaccounts and provide that bonds issued under this article […]
§ 41-5786 – Lien of pledge
41-5786. 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 improvement revenue bond debt service fund are immediately subject to the lien of the pledge without […]
§ 41-5787 – Bond purchase; cancellation
41-5787. 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 […]
§ 41-5788 – Payment of revenue bonds
41-5788. Payment of revenue bonds A. The revenue bonds shall be paid solely from monies from the school improvement revenue bond debt service fund established pursuant to section 41-5784 and other monies that are credited to the school improvement revenue bond debt service fund. B. The state treasurer or the paying agent for the revenue […]
§ 41-5789 – Investment of monies in school improvement revenue bond proceeds fund
41-5789. Investment of monies in school improvement revenue bond proceeds fund A. As provided by section 41-5791, the board may authorize the state treasurer or bond trustee to invest monies in the school improvement revenue bond proceeds fund established pursuant to section 41-5783. B. The order directing an investment shall state a specified time when […]
§ 41-5790 – Investment of monies in school improvement revenue bond debt service fund
41-5790. Investment of monies in school improvement 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 improvement revenue bond debt service fund as provided by section 41-5791. B. All monies earned as interest or otherwise derived from the investment […]
§ 41-5791 – Authorized investments of fund monies
41-5791. 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 improvement revenue bond proceeds fund or the school improvement revenue bond debt service fund in any of the following: 1. Obligations issued or guaranteed by the United States […]