48-1795. Returns of election; canvass of
returns; issuance and sale of bonds
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 located in the district, and at two o'clock in the afternoon canvass the
returns.
B. If it is found that a majority of the votes cast at the election favor issuance
of the bonds, the board shall proceed to issue and sell the bonds in conformity with the
provisions of this article and section 35-457, but no bonds shall be sold for less than
eighty-five per cent of the face value thereof.
C. The board of directors may, if no satisfactory bids are received at the time of
opening the bids, continue to negotiate for the sale of the bonds for sixty days, and if
not then sold the board may again advertise and offer the bonds for sale.
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