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<br />1 OTHER THAN THE BOARD OF THE DISTRICT, HAS AUTHORITY TO FIX, <br />2 PRESCRIBE, LEVY, MODIFY, SUPERVISE, OR REGULATE THE MAKING OF <br />3 SERVICE CHARGES, NOR TO PRESCRIBE, SUPERVISE, OR REGULATE THE <br />4 PERFORMANCE OF SERVICES APPERTAINING TO THE WORKS, FACILITIES, OR <br />5 OTHER PROJECTS OF THE DISTRICT, AS AUTHORIZED IN THIS ARTICLE; <br />6 EXCEPT THAT THIS SUBSECTION (6) SHALL NOT BE CONSTRUED TO BE A <br />7 LIMITATION ON THE CONTRACTING POWERS OF THE BOARD OF THE <br />8 DISTRICT. <br />9 37-49-502. Formofborrowing. (1) UPONTHECONDITIONSAND <br />10 UNDER THE CIRCUMSTANCES SET FORTH IN THIS ARTICLE, THE DISTRICT, TO <br />11 CARRY OUT THE PURPOSES OF THIS ARTICLE, FROM TIME TO TIME MAY <br />12 BORROW MONEY TO DEFRAY THE COST OF ANY PROJECT, OR ANY PART <br />13 THEREOF, AS THE BOARD MAY DETERMINE, AND ISSUE THE FOLLOWING <br />14 SECURITIES TO EVIDENCE SUCH BORROWING: DEBENTURES, WARRANTS, <br />15 BONDS, INTERIM RECEIPTS, TEMPORARY CERTIFICATES, TEMPORARY <br />16 BONDS, AND NOTES. <br />17 (2) THE DISTRICTIS AUTHORIZED TO BORROW MONEY WITHOUT AN <br />18 ELECTION IN ANTICIPATION OF T J}XES_QE..O.THERRE~NUES,_OKBO:rH,_AND <br />19 TO ISSUE DEBENTURES TO EVIDENCE THE AMOUNT SO BORROWED. <br />20 (3) THE DISTRICT IS AUTHORIZED TO DEFRAY THE COST OF ANY <br />21 SERVICES, SUPPLIES, EQUIPMENT, OR OTHER MATERIALS FURNISHED TO OR <br />22 FOR THE BENEFIT OF THE DISTRICT BY THE ISSUANCE OF WARRANTS TO <br />23 EVIDENCE THE AMOUNT DUE THEREFOR, WITHOUT AN ELECTION, IN <br />24 ANTICIPATION OF TAXES OR OTHER REVENUES, OR BOTH. <br />25 (4) DEBENTURES AND WARRANTS MAY MATURE AT SUCH TIME OR <br />26 TIMES NOT EXCEEDING FIVE YEARS AFTER THE DATE OF THEIR ISSUANCE AS <br />27 THE BOARD MAY DETERMINE. THEY SHALL NOT BE EXTENDED OR FUNDED <br /> <br />-25- <br /> <br />SB04-232 <br />