46-1,121 Bonds issued to discharge judgments or procure surrender of bonds, notes, and warrants; powers to be exercised by resolution; contents. - Nebraska Statutes

46-1,121. Bonds issued to discharge judgments or procure surrender of bonds, notes, and warrants; powers to be exercised by resolution; contents.In order to exercise the powers granted by sections 46-1,114 to 46-1,120 the board of directors shall adopt a resolution which shall (1) set forth the judgments to be discharged and the notes and warrants and bonds to be canceled for which bonds are to be issued; (2) authorize the issuance of bonds of the district in place of such judgments, bonds, notes and warrants, and determine the principal amount of the bonds authorized, their maturities, interest rate, interest payment dates, and in substance the terms of and limitations on the right of redemption thereof, if any, subject to the provisions of sections 46-1,114 to 46-1,126; (3) fix the date as of which settlement shall be made, and provide for such cash adjustments of principal and interest as may be necessary at the time of the actual delivery of the bonds; and (4) state the agreements, if any, to be made by the district as authorized by section 46-1,120. SourceLaws 1925, c. 128, § 8, p. 338; C.S.1929, § 46-185; R.S.1943, § 46-1,121.