9-521. Definitions In this article, unless the context otherwise requires: 1. " Bond" means any bond issued pursuant to this article, including any tax secured bond. 2. " Governing body" means the board, commission or other body having charge of the financial affairs of a municipality. 3. " Municipality" means any incorporated city or town. […]
9-521.01. Recreational facilities A. For the purposes of this article only, the term " utility undertaking" , in addition to the definition prescribed in section 9-521, shall mean recreational facilities. B. " Recreational facilities" means swimming pools, parks, playgrounds, municipal golf courses, and ball parks. C. Provisions of this section shall apply only to municipalities […]
9-522. Power to issue bonds A. In addition to its other powers, a municipality may: 1. Subject to the requirements and restrictions of sections 9-515 through 9-518, within or without its corporate limits, construct, improve, reconstruct, extend, operate, maintain and acquire, by gift, purchase or the exercise of the right of eminent domain, a utility […]
9-523. Bond election Questions on bond issues under this article shall be submitted to the qualified electors of the municipality. No bonds shall be issued without the assent of a majority of the qualified electors voting at an election held for that purpose as provided in this article.
9-524. Election order and call; publication; posting A. The governing body shall order and call an election upon the question of the issuance of bonds. The order and call shall state in substance: 1. The maximum amount of bonds to be issued. 2. The purpose for which the bonds are to be issued. 3. The […]
9-525. Registration of voters The governing body may require the registration of all persons desiring to vote at the election, in which case the election resolution shall state the dates, times and places when and where such persons may register. Registration shall begin not less than ten and shall close not less than five days […]
9-526. Form of ballot At the election the ballot shall contain the phrases " for the bonds" and " against the bonds." To the right of and opposite each phrase shall be placed a square approximately the size of squares placed opposite the names of candidates on ballots. The voter shall indicate his vote " […]
9-527. Canvass of votes A. The governing body shall canvass the returns and declare the result of the election. If it appears to the governing body that a majority of the qualified electors voting thereon assent to issuance of the bonds, the governing body shall provide for their issuance. B. The determination of the governing […]
9-528. Application of election laws Except as otherwise provided in this article, the manner of conducting the registration and election, keeping the poll lists, making the returns, declaring the results and doing all acts relating to the election shall conform to the procedure provided by law for the registration and qualification of electors and holding […]
9-529. Form of bonds; payment and call; interest; sale; bids; interim receipts; rates and procedures; definition A. Bonds issued under this article shall be fully negotiable within the meaning and for all purposes of title 47. They may be in one or more series, may bear dates, may be payable in a medium of payment, […]
9-530. Service charges; taxation and budgeting; computation A. The governing body of the municipality issuing the bonds shall prescribe service charges, and shall revise them when necessary, so that a utility undertaking for which the bonds were issued shall always remain self-supporting with revenue sufficient: 1. To pay when due all bonds, interest and continuing […]
9-531. Provisions of resolution for bond issue; covenants A. A resolution pertaining to issuance of bonds under this article may contain covenants as to: 1. The purpose to which the proceeds of sale of the bonds may be applied and to the use and disposition thereof. 2. The use and disposition of the revenue of […]
9-532. Utility receipts and bond proceeds; handling and disposition A. All proceeds received from sale of the bonds, all fees, rents, tolls or other charges received by the municipality from a utility undertaking financed by the bonds, and all monies received from any source in connection therewith shall be paid to the finance officer of […]
9-533. Validity of bonds A. Bonds issued under this article and bearing the signatures of officers in office on the date of the signing thereof shall be valid and binding obligations, notwithstanding that before the delivery thereof and payment therefor any or all of the persons whose signatures appear thereon have ceased to be officers […]
9-534. Certification of bonds by attorney general A. A municipality may submit to the attorney general bonds to be issued under this article after all proceedings for their issuance have been taken, and thereupon it shall be the duty of the attorney general to examine the bonds and pass upon the validity thereof and the […]
9-535. Prior lien of bonds A. Except as otherwise provided in the resolution authorizing the bonds, all bonds of the same issue under this article shall have a prior and paramount lien on the revenue of the utility undertaking for which the bonds have been issued over and ahead of bonds of an issue payable […]
9-535.01. Refunding bonds and revenue-producing undertaking; refunding utility purchase contracts; form; sale and investment of proceeds; limitation on amount issued A. Bonds may also be issued hereunder for the purpose of refunding any bonds issued under authority of this article or any bonds issued under the authority of title 35, chapter 3, article 3 or […]
9-536. Payment of bonds A. No holder of bonds issued under this article shall have the right to compel any exercise of the taxing power of the municipality to pay the bonds or the interest on such bonds. Each bond issued under this article shall recite in substance that payment of the bond and interest […]
9-537. Supplemental nature of article In so far as the provisions of this article are inconsistent with any other provision of law, the provisions hereof shall be controlling. The powers conferred by this article shall be in addition and supplemental to the powers conferred by any other law. Except as expressly provided in this article, […]
9-538. Validation of prior bonds Bonds lawfully issued under the provisions of chapter 4, session laws of 1940, first special session, and chapter 107, session laws of 1941, regular session, are validated and confirmed.
