50-1728. CONSOLIDATED LOCAL IMPROVEMENT DISTRICTS AUTHORIZED. Solely for the purpose of issuing bonds, registered warrants, or interim warrants, the governing body of any municipality may authorize the establishment of consolidated local improvement districts. The original local improvement districts so consolidated need not be contiguous. If the council orders the creation of such consolidated local improvement districts, the moneys received from the installment payment of the principal of and interest on assessments levied within the original local improvement districts shall be deposited in a consolidated local improvement district bond fund and interest fund to be used to pay the principal of and interest on the outstanding consolidated local improvement district bonds or warrants.
History:
[50-1728, added 1981, ch. 149, sec. 1, p. 259.]
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