48-3446. Powers and duties of board; issue of
time warrants


A. The board may borrow money, incur indebtedness and issue warrants against the
district treasurer for the payment of the compensation of employees, purchase of material
or equipment, payment of obligations of the district incurred under contracts for water
service or other district expense.


B. The board may issue time warrants when and if required for any of such purposes
in anticipation of the collection of taxes. The time warrants shall be registered, on
request of the holder, with the treasurer, and shall bear interest at the rate of seven
per cent per annum from the date of registration until paid.