48-1061. Definitions In this article, unless the context otherwise requires: 1. " Authorized purpose" includes any one or more of the following purposes: (a) The payment of district obligations. (b) The cost of acquiring, constructing, reconstructing, equipping, maintaining and repairing a waterworks or wastewater system as defined in section 48-901. (c) The acquisition of real […]
48-1062. Authorization and issuance of bonds; election A. The district may, pursuant to this article: 1. Issue its bonds in the principal amount as set forth in action by the board of directors, as necessary to: (a) Provide sufficient monies for any authorized purpose. (b) Establish reserves to secure the bonds. (c) Pay the necessary […]
48-1063. Securing principal and interest; lien of pledge A. To secure the principal and interest on the bonds the board of directors by resolution may: 1. Establish and segregate a pledged revenues fund and if appropriate, one or more accounts and subaccounts, to secure bonds or other obligations of the district. Any of the accounts […]
48-1064. 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, subject only to any provisions of registration, regardless of whether the bonds constitute negotiable instruments under the uniform commercial code. B. The bonds, […]
48-1065. 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 board of directors. B. An amendment of […]
48-1066. 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 which in any way impedes or restricts performing the acts authorized by this article may be […]
48-1067. Treasurer or fiscal agent; disposition of monies; investment A. The district 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 […]
48-1068. Bond proceeds fund; investments; expenditures; audit A. The board of directors shall establish a bond proceeds fund in connection with each series of bonds issued by the district. 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 […]
48-1069. Unlawful interest in real property by board member or employee; violation; classification A. A member of the board of directors or an employee of the district shall not have any direct or indirect financial interest in any real property purchased with monies derived from the issuance of bonds by the district. B. A person […]
48-1070. Provisions cumulative The provisions of this article shall be cumulative with and in addition to all other provisions of this chapter. No provision of this article shall in any way limit the provisions contained in this chapter.
