48-2022. Sale of bonds; disposition of
proceeds
A. The board of directors of a sanitary district shall sell bonds issued pursuant
to section 48-2021, subsections A, B, C and D at not less than par value at public sale
or if the district has a population of more than two thousand persons and has been in
existence for ten or more years at public or private sale, and the proceeds shall be
placed in the county treasury to the credit of the district. All premiums and accrued
interest received shall be paid into the bond fund of the district to be used for payment
of principal of and interest on the bonds, and the remainder of the proceeds shall be
paid into the construction fund of the district. The county treasurer shall keep an
accurate record of all monies of the district paid to him.
B. The construction fund shall be used exclusively for the purposes mentioned in
the resolution calling the bond election. Payments from the construction fund shall be
made upon claims allowed by the board of directors of the district, prepared, presented
and audited in the same manner as claims upon county funds.
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