PUBLIC FUNDS IN GENERAL
MUNICIPAL BOND LAW
57-227. Issuance and sale of bonds and securities to United States government — Interest rate. Bonds and securities of all kinds heretofore or hereafter authorized, issued by any issuing corporation or district (hereinafter called the "issuer" and as hereinafter specified), whether such bonds and securities be issued for such issuer itself or for any other taxing or assessment district within its limits, and whether payable in whole or in part out of and from general taxes or payable in whole or in part out of and from the earnings to be derived from any utility, system, construction, work, or works, belonging to or operated by any such issuer, or payable in whole or in part out of and from "local" or "benefit" assessments upon lands within any assessment district or assessment subdivision within any such issuer, or payable from any other source, may be sold to the United States Government or to any department, corporation or agency thereof or to any department, corporation, agency or body, created, organized or existing under or pursuant to any act of congress, by private sale without giving any prior notice thereof by publication or otherwise and in such manner as the governing authority of such issuer may provide; provided, only, that all bonds and securities sold and issued under the authority of this act shall be sold, if now required by existing law, at not less than par and accrued interest.
[57-227, added 1935 (1st E.S.), ch. 59, sec. 1, p. 160; am. 1970, ch. 133, sec. 19, p. 309.]