Title 48 — Special Taxing Districts

Services provided by a county to an electrical district are subject to reimbursement pursuant to section 11-251.06.

A. Immediately upon qualifying, the first board of directors shall investigate the different ways by which power can be brought into or generated within or without the district in such a manner as to be efficiently distributed to the users for irrigation purposes. The board shall…

A. The board of directors in making estimates for the first bond issue shall determine the amount of the organization indebtedness and include it in the amount for which the first bonds are proposed to be issued. The board shall, if it deems it advisable, include in the amount fo…

A. The board of directors, upon complying with sections 48-1791 and 48-1792, shall as soon as practicable call an election at which shall be submitted to the qualified electors of the district the question of issuing negotiable bonds of the district in an amount necessary to carr…

A. Notice of the election to vote upon the issuance of the bonds shall contain a general statement of the findings of the board of directors preliminary thereto and shall set forth the date of the election, the hours during which the polls will be open which shall not be less tha…

A. The election officers shall within two days after the election make returns of the vote to the board of directors. The board shall on the fifth day after the election meet at the voting place, or if there is more than one voting place, at the voting place most centrally locate…

Bonds issued under this chapter shall be signed by the chairman of the board of directors and attested by the secretary of the board if a member of the board, or if not, by the treasurer of the board or some member of the board authorized to do so by resolution. The coupons may b…

A. The proceeds of the bonds shall be paid into the treasury of the district. B. In each sale of bonds the treasurer of the district shall be required by the board of directors issuing the bonds to give an additional bond in an amount equal to the maximum of funds which will come…

A. Beginning with the third year after issuance of any bonds, the board of directors shall include in the certificate provided for in section 48-1773 an amount sufficient to create a sinking fund that will pay the outstanding bonds when they become due. All probable income or inc…

A. The board of directors of a district organized under this chapter may authorize and issue refunding bonds to refund the bonded indebtedness of the district when it deems it expedient to issue such bonds. B. The board shall adopt a resolution, and enter it upon its minutes, sta…

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 mann…

A. A district may finance any acquisition or expenditure authorized by this chapter with revenue bonds. A district may not finance with revenue bonds the acquisition by eminent domain of an existing electrical works or electrical facility of a municipality or public service corpo…

A. The district may borrow money and issue its revenue bonds for any lawful district purpose. The board of directors shall determine the maximum amount of bonds, the maximum rate of interest and the time of payment of the bonds or any series of bonds. An election or referendum is…

A. A bond may be issued in one or more series, bear a date or dates, mature at a time or times, be in a denomination or denominations, be in a form, carry a registration, exchangeability and interchangeability privileges, be executed in a manner, be payable in a medium of payment…

The board may provide that any series of bonds may be secured by a trust agreement by and between the district and one or more corporate trustees or fiscal agents, which may be any trust company or bank having the powers of a trust company in this state. A resolution is effective…

A. Any resolution, contract, indenture or trust agreement pertaining to the bonds may contain covenants and contractual arrangements as to the following: 1. The purpose to which the proceeds of the sale of the bonds may be applied and the use and disposition. 2. The segregation o…

A bond shall be sold at a public or private sale as determined by the board of directors.

Refunding bonds may be issued to refund any outstanding bonds issued pursuant to this article. These bonds shall be designated as refunding bonds and shall be secured by all or part of the revenues of the district or all or any part of revenues pledged to the bonds that have been…

The district may purchase any of its bonds authorized to be issued in this article out of any monies available for that purpose.

A. A bond that is issued and that bears the signature of officers in office on the date the bond is signed is a valid and binding obligation, notwithstanding that before delivery of the bond any or all of the persons whose signatures appear on the bond have ceased to be officers …

Notwithstanding any law to the contrary, all bonds and refunding bonds constitute legal investments for savings banks, banks, savings and loan associations, trust companies, executors, administrators, trustees, guardians and other fiduciaries and for any board, body, agency or in…

The district may make any covenant, order any rebate, file any tax return, report any information and order the limitation on the yield of any investment made with the proceeds from the sale of its bonds or with taxes, revenues or other income pledged, held in trust or otherwise …

The district may apply the proceeds from the sale of any of its bonds to further any of its lawful purposes including to pay all costs and estimated costs of the issuance of the bonds, of feasibility studies, of all engineering, inspection, fiscal and legal expenses and of the co…