48-2091. Refunding bonds A. The board of directors of a sanitary district may issue bonds for the purpose of refunding any bonds issued pursuant to article 2 of this chapter. Refunding bonds may be issued only if the total amount of principal of and interest on the refunding bonds does not exceed the total amount […]
48-2091.01. Use of net proceeds of refunding bonds; authorized investments A. Refunding bonds issued under this article may be: 1. Exchanged for bonds of at least the same principal amount of the bonds to be refunded. 2. Sold at, above or below par at a negotiated or public sale. 3. Exchanged in part and sold […]
48-2091.02. Modified assessment; notice and hearing A. If refunding bonds are issued, the board of directors shall file a modified assessment reflecting the reduction in the assessment. B. If the modified assessment does not increase the assessment on any parcel or lot in the sanitary district, the board may approve the modified assessment without notice […]
48-2091.03. Security for and payment of bonds; special fund A. Refunding bonds shall be secured by and are payable from the special assessments levied to pay the bonds being refunded. On the issuance of refunding bonds, the board of directors shall cause the remaining unpaid installments of the special assessments to be recalculated and modified […]
48-2091.04. Collection of assessments The treasurer of the sanitary district and the county treasurer may provide by agreement for: 1. The county treasurer to collect the special assessments under this article at the same time and in the same manner as provided by law for the collection and enforcement of general ad valorem property taxes. […]
48-2091.05. Determination of board of directors The determination by the board of directors that the limitations and conditions prescribed by this article relating to issuing refunding bonds have been met is conclusive in the absence of fraud or arbitrary and gross abuse of discretion.
