48-1793. Bond election; notice; terms of
bonds
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 carry out the proposed general purposes of the district. The election
must be held on the first Tuesday following the first Monday in November as prescribed by
section 16-204, subsection B, paragraph 1, subdivision (d). The bonds, if voted, shall be
sold at such times and in such amounts as the board of directors deems advisable, which
shall be determined only approximately in the proceedings of the board, and shall so
state in the notice of election.
B. The bonds shall run for such length of time as the board of directors decides
upon and submits to the electors, but for not more than thirty years, and may provide for
optional or progressive maturity in the discretion of the board. Such facts shall be
included in the notice of the election. The bonds shall bear interest payable
semiannually at the rate or rates set by the accepted bid which shall not exceed the
maximum rate set forth in the notice of the election. The bonds may be made payable any
place in the United States that is agreeable to the board and the purchasers.
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