48-2470. Sale of bonds
A. Bonds shall be sold at public or private sale, as the board of directors may
determine.
B. If the board of directors determines to sell such bonds at public sale, notice
of the sale shall be given by publication thereof for at least three days in a newspaper
published in the county in which the office of the board of directors is located, and in
such other newspaper as the board directs. The notice shall state that sealed bids will
be received by the board at its office for the purchase of the bonds until the day and
hour named in the resolution.
C. At the time appointed, the board shall meet and open the bids and award the
purchase of the bonds or reject any or all bids. The board may, by the resolution and
notice, require a deposit or certified check as an evidence of good faith to accompany
each bid for the bonds. The bonds may be sold at such price or prices as the board may
determine.
D. If the board of directors determines to sell such bonds at private sale, such
sale shall be subject to prior approval by a majority of the members of the council.
E. The secretary of the district shall keep a record of the bonds sold, their
number, the date of sale, the price received and the name of the purchaser or purchasers.
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