48-6271. Definitions (Conditionally Rpld.) In this article, unless the context otherwise requires: 1. " Bond related expenses" means any expenses incurred by the district to issue and administer its bonds, including underwriting fees and costs, trustee fees, financial consultant fees, printing and advertising costs, paying agent fees, transfer agent fees, legal, accounting, feasibility consultant and […]
48-6272. Authorization of revenue bonds; conditional expiration (Conditionally Rpld.) A. Subject to subsections D and E of this section, the district may issue negotiable revenue bonds pursuant to this article in a principal amount that is necessary to: 1. Provide sufficient monies for theme park purposes. The board may segregate any theme park purpose for […]
48-6273. Issuance and sale of bonds (Conditionally Rpld.) A. The board shall issue the bonds in the number and amount provided in the resolution. The board shall provide notice of its intention to issue bonds in a manner consistent with market practice. B. The bonds may be sold by competitive public sale, through an on-line […]
48-6274. Bond proceeds account (Conditionally Rpld.) A. If the district issues bonds under this article, the board shall establish a bond proceeds account within the general fund consisting of monies received from the sale of the bonds. B. The district may use monies in the bond proceeds account only for theme park purposes in the […]
48-6275. Debt service account (Conditionally Rpld.) A. If the district issues bonds under this article, the board shall establish a debt service account within the general fund consisting of monies designated and dedicated by the board for repayment of the bonds and payment of costs and related expenses associated with redeeming the bonds. B. Monies […]
48-6276. Securing principal and interest (Conditionally Rpld.) 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. Pledge for the payment of principal and interest on the bonds all or part of the revenues and other monies received by the […]
48-6277. Lien of pledge (Conditionally Rpld.) A. Any pledge made under this article is valid and binding from the time when the pledge is made. B. The monies pledged to the holders of the bonds and received by the district for placement in the debt service account are immediately subject to the lien of the […]
48-6278. Bond purchase; cancellation (Conditionally Rpld.) The board may purchase bonds for cancellation, using any available monies, at a price not exceeding the following: 1. If the bonds are redeemable at the time of purchase, the applicable redemption price plus accrued interest to the next interest payment date. 2. If the bonds are not redeemable […]
48-6279. Payment of bonds (Conditionally Rpld.) A. The bonds shall be paid solely from monies in the debt service account. B. The members of the board and any persons who execute the bonds are not personally liable for the payment of the bonds. C. The fiscal agent of the district shall cancel all bonds when […]
48-6280. Use of surplus monies (Conditionally Rpld.) A. If a balance remains in the bond proceeds account after all acquisition, construction and related costs have been paid: 1. The board shall credit the balance to repay any other outstanding indebtedness of the district. 2. If the district has no outstanding indebtedness, the board shall credit […]
48-6281. Investment of monies in the bond proceeds account (Conditionally Rpld.) A. The board may authorize the district fiscal agent to invest monies in the bond proceeds account in the manner prescribed by section 48-6283. B. The order directing an investment shall state a date on which the proceeds from the sale of the bonds […]
48-6282. Investment of monies in debt service account (Conditionally Rpld.) A. The board may authorize the district fiscal agent to invest and reinvest any monies in the debt service account as provided by section 48-6283. B. The order directing an investment shall state a date on which the monies and other resources in the debt […]
48-6283. Authorized investments of monies (Conditionally Rpld.) A. The monies in either the bond proceeds account or the debt service account may be invested and reinvested at the direction of the board in any of the following: 1. United States treasury obligations. 2. Consolidated farm loan bonds. 3. Obligations issued by the federal intermediate credit […]
48-6284. Deposit and disbursement of monies (Conditionally Rpld.) A. Monies derived from selling bonds under this article or pledged or assigned to or in trust for the benefit of the holder or holders of the bonds shall be deposited by the district fiscal agent in financial institutions that the board designates and that are insured […]
48-6285. Characteristics of bonds; negotiability; obligation; legal investments; exemption from taxation (Conditionally Rpld.) 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. […]
48-6286. Effect of changing circumstances on bonds; agreement of state (Conditionally Rpld.) A. Bonds issued under this article remain valid and binding obligations of the district notwithstanding that before the delivery of the bonds any person whose signature appears on the bonds ceases to be an officer of the district. B. An amendment of any […]
48-6287. Validity of bonds; legal opinion (Conditionally Rpld.) 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 […]
