46-1,109. Bonds; refunding; conditions for issuance; procedure; notice; form; contents; action of board when no objections filed.

Whenever it is desired to issue bonds under section 46-1,108, the board of directors shall, by resolution entered in the minutes of its proceedings, direct public notice to be given, stating the amount of the indebtedness sought to be taken up and paid, the date it was voted, the rate of interest it bears, and that the same is sought to be taken up and paid off by the issuance and sale, or the issuance and exchange of bonds bearing interest at an equal or less rate and amount per annum, and stating the date on which and the place where any taxpayer of such irrigation district may file objections to such proposed action. Such notice shall be signed by the president and secretary of the irrigation district, and shall be published for two weeks in some newspaper in general circulation in the district, or by posting the notice in three of the most public places in the district for at least fifteen days prior to such date. If after such publication and on the day for filing objections, no objections to such action by the board of directors are filed, then the board of directors may issue and sell, or exchange, as the case may be, the bonds authorized by section 46-1,108, not exceeding the amount stated in such notice, nor exceeding the amount of actual bonded indebtedness of the district then outstanding and unpaid, nor bearing interest greater in rate or amount, and thereby take up and pay off the bonds described in the notice.

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