48-543. Sale of bonds; disposition of proceeds
A. Improvement bonds issued under this article may be sold to the highest cash bidder, after advertising for bids by publication at least three times in a daily newspaper published and circulated in the city or town, or if there is no daily newspaper, then once in a weekly or semiweekly newspaper so published and circulated.
B. The council may not sell the bonds for less than par. If sold in excess of par the excess shall be paid into the general fund of the city or town. The proceeds of the sale shall be paid into a fund representing the assessments on which the bonds were issued.
Section: Previous 48-536 48-537 48-538 48-539 48-540 48-541 48-542 48-543 48-544 48-545 48-546 48-547 48-548 48-549 48-550 NextLast modified: October 13, 2016