Section 46A-7A-92 - Revenue bonds--Vote required to issue--Approval by state board.
46A-7A-92. Revenue bonds--Vote required to issue--Approval by state board. The board, by resolution approved by three-quarters of the directors, may decide to issue revenue bonds to obtain funds for any lawful purpose of the district, including repayment of indebtedness of the district or payment on contracts with the United States. However, no revenue bonds may be issued or sold until issuance has been approved by the state board.
Source: SL 1985, ch 360, § 92.