48-3211. Construction of article The powers conferred by this article are in addition and supplemental to the powers conferred by any other law. It is the purpose and intent of this article to create full and complete additional and alternate methods for the exercise of such powers. Insofar as the provisions of this article are […]
48-3212. Definitions In this article, unless the context otherwise requires: 1. " Bonds" means revenue bonds and includes notes if applicable. 2. " Undertaking" means for the purpose of this article the purchase, construction, leasing or acquisition of any real or personal property, works or facilities which the district is authorized by law to purchase, […]
48-3213. Purpose for which revenue bonds may be issued After the organization of an irrigation district, the board of directors may cause revenue bonds to be issued for any undertaking.
48-3214. Powers of district In exercising the powers granted or permitted by law, the district may: 1. Issue its bonds to finance all or part of the costs of any undertaking. 2. Pledge to the punctual payment of the bonds and interest thereon the revenue of the district, or any part thereof, or all or […]
48-3215. Revenue bonds A. To undertake, carry out and accomplish any of the purposes and powers of the district authorized or permitted by law, the district may borrow money and issue its negotiable bonds therefor. No bonds may be issued unless authorized by a resolution of the board of directors adopted by an affirmative vote […]
48-3216. Forms of bonds A. All bonds and coupons issued under this article are payable in lawful money of the United States and shall be payable in not exceeding fifty years from the date of the bond. B. The bonds may be issued in one or more series, bear such date or dates, mature at […]
48-3217. Adoption of resolution; trust agreement For the purpose of this article, the board of directors of any district by affirmative vote of a majority of its members may adopt a resolution relating to the exercise of the powers granted by this article and to any other matters necessary to effectuate the full intent and […]
48-3218. Covenants in resolution or trust agreement A. Any resolution or trust agreement pertaining to the issuance of bonds under this article shall authorize the undertaking and may in addition contain covenants as to: 1. The purpose to which the proceeds of the sale of the bonds may be applied and the use and disposition […]
48-3219. Bond anticipation notes A district, at any time after the issuance of bonds is authorized, may borrow money for the purposes for which such bonds are to be issued in anticipation of the receipt of the proceeds of the sale of such bonds and within the authorized maximum amount of such bond issue. Bond […]
48-3219.01. Sale of bonds A. Bonds shall be sold at public or private sale, as the board of directors may determine. B. If the board of directors determines to sell such bonds at public sale, notice of the sale shall be given by publication for at least three days in a newspaper of general circulation […]
48-3219.02. Purchase of bonds by districts A district may purchase its bonds authorized to be issued in this article out of any monies available for that purpose. A district shall cancel forthwith any bonds so purchased.
48-3219.03. Disposition of proceeds and other monies All proceeds received from the sale of the bonds, all fees, rental or other charges received by the district from any undertaking financed by the bonds and all monies received from any source in connection with the bonds shall be used, applied and disposed of as the board […]
48-3219.04. Validity of bonds; nonliability of officers and directors A. Bonds issued under this article and bearing the signature of officers in office on the date of the signing thereof are valid and binding obligations, notwithstanding that, before delivery and payment thereof, any of the persons whose signatures appear thereon have ceased to be officers […]
48-3219.05. Bonds; legal investment Notwithstanding any other law, all bonds, including refunding bonds, issued pursuant to this chapter are legal investments for savings banks, banks, savings and loan associations, trust companies, executors, administrators, trustees, guardians and other fiduciaries, and for any board, body, agency or instrumentality of this state, or of any county, municipality or […]
