48-4541. Definitions 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 other expert […]
48-4542. Issuance of bonds A. The board, subject to this article, may: 1. Issue its negotiable bonds in such principal amount as, in the opinion of the board, is necessary to: (a) Provide sufficient monies for any water replenishment purpose. (b) Establish reserves to secure the bonds. (c) Pay the necessary costs of issuing, selling […]
48-4543. General obligation bond election; results A. On determining the amount of money that is necessary to be raised for any of the purposes set forth in section 48-4542 and that may be subject to repayment under section 48-4503, subsection B, paragraph 1, the board shall immediately call an election to submit to the electors […]
48-4544. Securing principal and interest; lien of pledge A. To secure the principal and interest on the bonds the board by resolution may: 1. Establish and segregate the bond fund into one or more accounts and subaccounts to secure bonds or other obligations of the district. Any of the accounts or subaccounts may be pledged […]
48-4545. 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 regardless of whether the bonds constitute negotiable instruments under the uniform commercial code. B. The bonds, their transfer and the income from the […]
48-4546. Effect of changing circumstances on bonds; agreement of state A. Bonds issued under this article are valid and binding obligations of the district notwithstanding that before the delivery of the bonds any of the persons whose signatures appear on the bonds cease to be officers of the district. B. An amendment of any provision […]
48-4547. 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 […]
48-4548. Treasurer or fiscal agent; disposition of monies; investments A. The board may appoint a treasurer or fiscal agent to hold, deposit and invest the district’s monies. B. No monies derived from selling bonds issued under this article or pledged or assigned to or in trust for the benefit of the holder or holders of […]
48-4549. Bond fund; investments; expenditures; audit A. The board shall establish and maintain a bond fund. After deducting the necessary costs and expenses of issuing and selling the bonds, the treasurer or fiscal agent shall promptly deposit the proceeds from selling and delivering the bonds in the bond fund. The treasurer or fiscal agent shall […]
