46-567.01. Revenue bonds; interest; issuance; sale.
355 words·~2 min read·
/ne/chapter-46/46-567-01A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In addition to the authority to issue bonds provided by sections 46-563 to 46-567 , the board is hereby authorized to issue revenue bonds for any corporate purpose for the payment of which the board is authorized to pledge only the revenue, income, receipts, and profits derived by the district from the sale of power and energy, water for domestic and irrigation uses, and assessments for special benefits authorized under Classes B, C, and D, and money received for all other services, furnished, sold, or supplied by the district.
The district shall not pledge to the payment of bonds authorized under this section any taxes levied as Class A under the authority of section 46-543 or under any sections therein referred to, and no bonds shall be issued under the provisions of this section unless authorized by an election as provided in section 46-564 . Such bonds shall bear such rate or rates of interest as shall be determined by the board, and such bonds shall be due and payable in not more than fifty years from the date thereof.
The form, terms, and provisions of the bonds for the redemption of the bonds prior to maturity, with or without premiums, not inconsistent with the law, shall be determined by the board. The bonds shall be executed in the name of and on behalf of the district and signed by the president of the board with the seal of the district affixed thereto, attested by the secretary of the board, and they shall be in such denominations as the board shall determine, and payable to bearer, or registered as to principal only, or as to principal and interest, as the board shall determine, and the bonds shall be registered in the office of the county treasurer in the county wherein the main office of the district is located.
The coupons attached to the bonds shall be executed with the facsimile signature of the president of the board. The bonds and the interest thereon shall be exempt from all state, county, municipal, school, and other taxes imposed by any taxing authority of the State of Nebraska.