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.
Terms Used In Nebraska Statutes 46-1,121
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801