61-08-01. Resolution to institute initial proceedings for bonds - Contents - Adoption

61-08-01. Resolution to institute initial proceedings for bonds - Contents - Adoption Proceedings for the issuance of bonds by an irrigation district must be instituted by the adoption of an initial resolution by the board of directors of the district. The initial resolution must state: 1. The maximum principal amount of bonds proposed to be issued. 2. The purpose for which the bonds are proposed to be issued. 3. The total amount of bonded indebtedness, if any, of the district. 4. Any other statement of fact deemed advisable by the board. The initial resolution may be adopted by a majority of the board at any regular meeting or at any special meeting of which the prescribed notice has been given.