79-10,116. Class IV or V school district; bonds; purchase before maturity.

If it is deemed advisable by the board of education of a Class IV or V school district to purchase bonds issued by the district before maturity, the treasurer shall sell to the highest bidder in the open market, and in a manner prescribed by the board, such bonds or securities as belong to the school funds and the proceeds thereof shall apply to purchase of bonds issued by the district.

Source:Laws 1891, c. 45, § 27, p. 327; R.S.1913, § 7033; C.S.1922, § 6664; C.S.1929, § 79-2727; R.S.1943, § 79-2731; Laws 1949, c. 256, § 219, p. 762; R.S.1943, (1994), § 79-532; Laws 1996, LB 900, § 762.