48-651. Refunding bonds A. Bonds may be issued for the purpose of refunding any bonds issued pursuant to article 2 or 3 of this chapter. B. Refunding bonds issued pursuant to this article shall have such details and be issued and sold as provided by the governing body of the city or town and shall […]
48-652. Use of net proceeds; investment of proceeds; definition A. Refunding bonds issued pursuant to this article may be exchanged for not less than a like principal amount of bonds to be refunded, may be sold at, above or below par at a negotiated or public sale or may be exchanged in part and sold […]
48-653. Limitation on refunding bonds; notice and hearing; definition A. 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 of remaining principal of and interest on the bonds to be refunded. The superintendent shall file a modified assessment reflecting […]
48-654. Security; payment A. The refunding bonds shall be secured and payable from the special assessments levied to pay the bonds being refunded. On issuance of refunding bonds, the remaining unpaid installments of such special assessments shall be recalculated and modified so that the amounts to be collected equal the amounts needed to repay the […]
48-655. Collection of assessments The treasurer and the county treasurer for the county in which the city or town is located may enter into an agreement for the county treasurer to collect the special assessments for the refunding bonds in the manner and by the officers provided by law for the collection and enforcement of […]
48-656. Determination of governing body The determination of the governing body issuing refunding bonds that the limitations imposed pursuant to this article on the issuance of refunding bonds have been met shall be conclusive in the absence of fraud or arbitrary and gross abuse of discretion.
