§ 48-6278 – Bond purchase; cancellation
48-6278. Bond purchase; cancellation (Conditionally Rpld.) The board may purchase bonds for cancellation, using any available monies, at a price not exceeding the following: 1. If the bonds are redeemable at the time of purchase, the applicable redemption price plus accrued interest to the next interest payment date. 2. If the bonds are not redeemable […]
§ 48-6279 – Payment of bonds
48-6279. Payment of bonds (Conditionally Rpld.) A. The bonds shall be paid solely from monies in the debt service account. B. The members of the board and any persons who execute the bonds are not personally liable for the payment of the bonds. C. The fiscal agent of the district shall cancel all bonds when […]
§ 48-6280 – Use of surplus monies
48-6280. Use of surplus monies (Conditionally Rpld.) A. If a balance remains in the bond proceeds account after all acquisition, construction and related costs have been paid: 1. The board shall credit the balance to repay any other outstanding indebtedness of the district. 2. If the district has no outstanding indebtedness, the board shall credit […]
§ 48-6281 – Investment of monies in the bond proceeds account
48-6281. Investment of monies in the bond proceeds account (Conditionally Rpld.) A. The board may authorize the district fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 48-6283. B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds […]
§ 48-6282 – Investment of monies in debt service account
48-6282. Investment of monies in debt service account (Conditionally Rpld.) A. The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by section 48-6283. B. The order directing an investment shall state a date on which the monies and other resources in the debt […]
§ 48-6283 – Authorized investments of monies
48-6283. Authorized investments of monies (Conditionally Rpld.) A. The monies in either the bond proceeds account or the debt service account may be invested and reinvested at the direction of the board in any of the following: 1. United States treasury obligations. 2. Consolidated farm loan bonds. 3. Obligations issued by the federal intermediate credit […]
§ 48-6284 – Deposit and disbursement of monies
48-6284. Deposit and disbursement of monies (Conditionally Rpld.) A. Monies derived from selling bonds under this article or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds shall be deposited by the district fiscal agent in financial institutions that the board designates and that are insured […]
§ 48-6285 – Characteristics of bonds; negotiability; obligation; legal investments; exemption from taxation
48-6285. Characteristics of bonds; negotiability; obligation; legal investments; exemption from taxation (Conditionally Rpld.) 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. […]
§ 48-6286 – Effect of changing circumstances on bonds; agreement of state
48-6286. Effect of changing circumstances on bonds; agreement of state (Conditionally Rpld.) A. Bonds issued under this article remain valid and binding obligations of the district notwithstanding that before the delivery of the bonds any person whose signature appears on the bonds ceases to be an officer of the district. B. An amendment of any […]
§ 48-6287 – Validity of bonds; legal opinion
48-6287. Validity of bonds; legal opinion (Conditionally Rpld.) 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 […]