LOCAL IMPROVEMENT DISTRICT CODE — GUARANTEE FUND
50-1772. Commercially reasonable credit assurances. If requested by the petitioners for a local improvement district, and in addition to or in lieu of a reserve or guarantee requirement, the council or other governing body of a governmental entity may impose such commercially reasonable credit assurances as it may deem necessary as a condition of approving a local improvement district. If commercially reasonable, such assurances may include guarantees, letters of credit or bonds in amounts up to the total amount of indebtedness.
[50-1772, added 1999, ch. 291, sec. 9, p. 730.]