Effective 28 Aug 1949
247.590. Issuance of current revenue bonds, when — execution. — During the period of time required to collect any tax or property within the district levied for general operating purposes the board may issue and sell current revenue bonds to bear interest at not to exceed six percent per annum to meet the current expenses of the district incurred in advance of the revenue to be derived from such tax levy, and to be paid out of such current revenue levied for general operating purposes when collected. Such bonds may be for six, nine or twelve months and shall not exceed in the aggregate one-half of the revenue for the fiscal year for which they are issued. The president of the board shall execute the bonds on behalf of the district and they shall be attested by the secretary with the seal of the district.
--------
(L. 1949 p. 350 § 36)
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.
