15-1023. Issuance of bonds
A. Upon receipt of the certificate of the appropriate election officer as provided
in section 15-493 that a majority of votes cast at the bond election favors issuing the
bonds, the school district governing board shall issue the bonds of the school district
in the number and amount provided in the proceedings, payable from the debt service fund
of the school district, naming the fund, and the monies shall be raised by taxation upon
the taxable property in the school district for redemption of the bonds and payment of
interest thereon.
B. The governing board of the school district by an order entered upon its minutes
shall prescribe the form of the bonds and the interest coupons attached thereto and fix
the time when the whole or any part of the principal of the bonds is payable, which shall
not be more than twenty years from the date thereof.
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