48-1410. Issuance of bonds
A. The board of supervisors shall issue the bonds of the district in the number and amount provided in the proceedings, payable from the road fund of the district, naming the district. The money for redemption of the bonds and payment of interest thereon shall be raised by taxation upon all real property and mobile homes in the district.
B. The board of supervisors shall prescribe the form of the bonds and the interest coupons attached thereto, and fix the time, not to exceed twenty years from the date thereof, when the whole or any part of the principal of the bonds shall be payable. The bonds shall bear interest, payable semiannually, at the rate or rates set by the accepted bid which shall not exceed the maximum rate of interest set forth in the resolution calling the election and shall be sold in the manner prescribed by the board of supervisors, but for not less than par. The proceeds of the sale shall be deposited in the county treasury to the credit of the road district, to be withdrawn for the purposes provided by this article as other road district money is drawn.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
