41-5781. Authorization of state school improvement revenue bonds; expiration A. The board may issue revenue bonds in a principal amount not to exceed $800, 000, 000 pursuant to this article. The board may also issue qualified zone academy bonds within the meaning of section 1397e of the United States internal revenue code of 1986 or […]
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 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 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 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 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 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 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 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 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 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 […]
41-5792. 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 […]
41-5793. 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 […]
41-5794. 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 […]
