(a) The various counties of the state, through their respective county legislative bodies, are authorized and empowered to issue and sell bonds for the purchase of school buses and appurtenances necessary to operate them.
(b) The bonds may be known as school bonds and shall be issued in accordance with the provisions for the issuance of other school bonds as set out in this part; provided, that bonds issued under this section shall mature within a time or times not to exceed eight (8) years from the date of issuance.
(c) The provisions of § 49-3-1003(b) providing for the proration of the proceeds of the bonds between county and city school systems shall not apply to bonds issued under authority of this section.
(d) The county legislative bodies are authorized and empowered to set aside into a sinking fund the necessary amounts each year from the regular school transportation allotment to retire the bonds upon their date of maturity.
(e) The full faith and credit of a county issuing bonds under this section shall be pledged to the retirement 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.
