48-3751. Ordinances; revenue bonds A. An ordinance adopted pursuant to section 48-3712 shall set forth a plan for the district to borrow money and issue its negotiable revenue bonds. The ordinance may determine the maximum amount of bonds, the maximum rate of interest and the time of payment of the bonds. B. The principal of […]
48-3752. Terms, conditions and forms of bonds A. A bond may be issued in one or more series, bear a date or dates, mature at a time or times, be in a denomination or denominations, be in a form, carry a registration, exchangeability and interchangeability privileges, be executed in a manner, be payable in a […]
48-3753. Resolution and trust agreements; adoption The board may provide that any series of bonds may be secured by a trust agreement by and between the district and one or more corporate trustees or fiscal agents, which may be any trust company or bank having the powers of a trust company in this state. A […]
48-3754. Resolution and trust agreements; covenants A. Any ordinance, resolution, contract, indenture or trust agreement pertaining to the bonds may contain covenants and contractual arrangements as to the following: 1. The purpose to which the proceeds of the sale of the bonds may be applied and the use and disposition. 2. The segregation of any […]
48-3755. Sale of bonds A bond shall be sold at a public or private sale as determined by the board.
48-3756. Refunding bonds Refunding bonds may be issued to refund any outstanding bonds. These bonds shall be designated as refunding bonds and shall be secured by all or part of the revenues of the district or all or any part of revenues pledged to the bonds that have been refunded.
48-3757. Purchase of bonds by the district The district may purchase any of its bonds authorized to be issued in this article out of any monies available for that purpose.
48-3758. Validity of bonds; nonliability of officers and directors A. A bond that is issued and that bears the signature of officers in office on the date the bond is signed is a valid and binding obligation, notwithstanding that, before delivery of the bond, any or all of the persons whose signatures appear on the […]
48-3759. Bonds as legal investments Notwithstanding any law to the contrary, all bonds and refunding bonds constitute 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 political subdivision of this state […]
48-3760. Federal income tax considerations The district may make any covenant, order any rebate, file any tax return, report any information and order the limitation on the yield of any investment made with the proceeds from the sale of its bonds or with taxes, revenues or other income pledged, held in trust or otherwise used […]
48-3761. Application of bond proceeds The district may apply the proceeds from the sale of any of its bonds to further any of its lawful purposes including to pay all costs and estimated costs of the issuance of the bonds, of feasibility studies, of all engineering, inspection, fiscal and legal expenses and of the cost […]
48-3762. Limitation on amount, rates, fees and charges A. The district shall not issue any bonds under this article that will cause the aggregate principal amount of bonds issued and outstanding under this article to exceed five hundred million dollars. B. Bonds issued before September 21, 1991 are excluded for the purposes of determining the […]
