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AGO Opinions with Topic: AUTHORIZED PURPOSES AND METHOD OF ISSUANCE AND SALE
AGO 1961 No. 19 >  March 22, 1961
DISTRICTS - FIRE PROTECTION - GENERAL OBLIGATION BONDS - AUTHORIZED PURPOSES AND METHOD OF ISSUANCE AND SALE
DISTRICTS ‑- FIRE PROTECTION ‑- GENERAL OBLIGATION BONDS ‑- AUTHORIZED PURPOSES AND METHOD OF ISSUANCE AND SALE (1) A fire protection district authorized by the electors to issue general obligation bonds to finance replacement of equipment on a need basis may issue only a portion of the authorized bonds and delay the issuance of the remainder for a reasonable period of time until the need for replacement of additional equipment actually arises. (2) The general obligation bonds so authorized may be sold privately without a public offering at the discretion of the board of fire commissioners if it determines that such a private sale would be in the best interest of the district.
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