Cooperative educational service units--Powers--Authorization to issue notes

A cooperative educational service unit may carry out the services stated in the cooperative agreement but may not levy taxes or issue bonds. However, a cooperative educational service unit may issue notes to be sold to the health and educational facilities authority or otherwise borrow money in connection with a program sponsored by the health and educational facilities authority pursuant to § 1-16A-75 . Source: SL 1980, ch 119 , § 2; SL 1991, ch 124 , § 1.