48-1800. Execution of refunding bonds; interest; sale or exchange of bonds; payment
A. The refunding bonds shall be negotiable in form and shall be signed by the chairman of the board of directors, sealed with the seal of the district, and attested by the district secretary.
B. Levy of taxes or service charges for repayment of the bonds shall be in the same manner as provided for the original issue. The interest shall be payable semiannually and shall be evidenced by semiannual interest coupons attached to the bonds bearing the facsimile signatures of the chairman and secretary of the board, but without seal.
C. The refunding bonds may be exchanged in like amount for bonds to be refunded, or they may be sold by the board of directors at not less than par and accrued interest and the proceeds applied to the purpose for which the bonds were issued. The board shall keep a record showing the date, number, amount and maturity of each bond, the payments of principal and interest thereon and a record of its destruction when paid or retired. Bonds paid shall be burned or destroyed by the board.
D. The board shall have full power and authority in the issuance and sale of refunding bonds in all matters although not provided for in this chapter, and shall make necessary provisions, rules and regulations, fix the times, methods and procedures and take all necessary steps for the issuance, sale and delivery of the bonds.
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.
