Section 43-2547 – BONDS, WARRANTS AND COUPONS, WHEN PAID OUT OF FUND — NONPAYMENT FOR WANT OF FUNDS — INTEREST.
43-2547. BONDS, WARRANTS AND COUPONS, WHEN PAID OUT OF FUND — NONPAYMENT FOR WANT OF FUNDS — INTEREST. Whenever any district has established such local improvement guarantee fund, and any bond, warrant or coupon drawn against any local improvement fund is presented to the district for payment and there is not sufficient amount in said […]
Section 43-2548 – SUBROGATION OF DISTRICT TO RIGHTS OF PAYEE — SURPLUS FUNDS — PAYMENT INTO FUND — PREFERENCES.
43-2548. SUBROGATION OF DISTRICT TO RIGHTS OF PAYEE — SURPLUS FUNDS — PAYMENT INTO FUND — PREFERENCES. Whenever there shall be paid out of the local improvement guarantee fund, any sum on account of principal or interest of a local improvement bond or warrant, the district, as trustee for the fund, shall be subrogated to […]
Section 43-2549 – MAINTENANCE AND OPERATION AND SOURCES OF FUND.
43-2549. MAINTENANCE AND OPERATION AND SOURCES OF FUND. The board shall prescribe rules and regulations for the maintenance and operation of the guarantee fund not inconsistent herewith. After the creation of such fund, all money derived from the assignment of delinquency certificates, redemptions, sale of property under foreclosure for delinquent local improvement district assessments or […]
Section 43-2550 – REPLENISHMENT OF FUND — WARRANTS — ISSUANCE AGAINST FUND — TAX LEVY.
43-2550. REPLENISHMENT OF FUND — WARRANTS — ISSUANCE AGAINST FUND — TAX LEVY. Whenever there is not a sufficient amount of cash in said local improvement guarantee fund, at any time to pay any and all warrants, together with interest thereon, drawn against said fund, the board may replenish said local improvement guarantee fund by […]
Section 43-2551 – BONDS AND WARRANTS — REVENUES FROM WHICH PAYABLE.
43-2551. BONDS AND WARRANTS — REVENUES FROM WHICH PAYABLE. The holder or owner of any local improvement bond or warrant shall have no claim thereon against the district by which the same is issued, except to the extent of the funds created and received by assessments against the property within any local improvement district and […]
Section 43-2552 – BONDS PAYABLE FROM FUND.
43-2552. BONDS PAYABLE FROM FUND. Whenever a district has created a local improvement guarantee fund, under the provisions of this act, any local improvement district bonds issued thereafter shall provide that the principal sum of such bonds and the interest thereon shall be payable out of the local improvement fund created for the payment of […]
Section 43-2537 – EFFECT OF DEED AS EVIDENCE.
43-2537. EFFECT OF DEED AS EVIDENCE. The matters recited in the delinquency certificate must be recited in the deed and such deed duly acknowledged or proved shall be prima facie evidence: (1) That the local improvement district was created, the assessment made and the work and improvement done in the manner provided by law; (2) […]
Section 43-2553 – EXCESS IN FUND — DISPOSITION.
43-2553. EXCESS IN FUND — DISPOSITION. When a local improvement guarantee fund duly created in any district exceeds in amount of moneys held therein by ten percent (10%) of the total outstanding obligations thereby guaranteed, then the board may, by resolution, authorize the treasurer or appropriate official of said district to return and pay such […]
Section 43-2538 – DELINQUENCY CERTIFICATE FOR SUBSEQUENT INSTALLMENTS.
43-2538. DELINQUENCY CERTIFICATE FOR SUBSEQUENT INSTALLMENTS. Whenever any delinquency certificate has been assigned, as hereinbefore provided, and the time for redemption has expired and there are outstanding, against the property covered by said certificate, any delinquent installments subsequent in time to the installment for which the property was sold, then the treasurer shall issue to […]
Section 43-2554 – RESERVE FUND AUTHORIZED.
43-2554. RESERVE FUND AUTHORIZED. For the purpose of securing the payment of the principal of and interest on an issue of local improvement bonds, notes, warrants or other short-term obligations, the board may create a reserve fund for each obligation in addition to or in lieu of a guarantee fund. The reserve fund shall be […]