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such reserves for debt service or other capital or current expenses | | from the proceeds of such refunding bonds as may be required by a | | trust agreement or resolution securing bonds. The issuance of | | refunding bonds, the maturities and other details of the refunding | | bonds, the security for refunding the bonds, the rights of the | | holders of the refunding bonds and the rights, duties and | | obligations of the district in respect of the same are governed by | | the applicable provisions of this section relating to the issuance | | of bonds other than refunding bonds. |
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| | | 8. All bonds, notes or other evidences of indebtedness issued | | under this Act, their transfer and the income from the bonds, | | notes or other evidences of indebtedness, including any profit | | made on the sale of bonds, notes or other evidences of | | indebtedness, must at all times be free from taxation within the | | State. |
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| | | 9. Bonds and notes issued by the district are securities in | | which all public officers and public bodies of the State and its | | political subdivisions, insurance companies and associations and | | other persons carrying on an insurance business; trust companies, | | banks, bankers and banking associations; savings banks and | | savings associations, including savings and loan associations; | | credit unions; building and loan associations; investment | | companies; executors, administrators, trustees and other | | fiduciaries; pension, profit-sharing and retirement funds; and | | other persons carrying on a banking business, and all other | | persons who are authorized to invest in bonds or other |
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| | | obligations of the State, may properly and legally invest funds, | | including capital in their control or belonging to them. The | | bonds and notes are securities that may properly and legally be | | deposited with and received by any state, municipal or public | | officer or any agency or political subdivision of the State for | | any purpose for which the deposit of bonds or other obligations | | of the State is authorized by law. |
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| | | Sec. 16. Certain bond issues; special meeting; vote. If the trustees vote to | | authorize bonds or notes for any of the corporate purposes of the | | sewer district, excluding notes payable within one year, notes in | | anticipation of bonds authorized pursuant to this Act, notes in | | anticipation of the revenues to be collected or received in any | | year and notes in anticipation of the receipt of approved federal | | or state grants, the authorized amount of which singly or in | | aggregate included in any one financing is $150,000 or more, the | | trustees must call a special district meeting for the purpose of | | permitting the collection of testimony from the public concerning | | the purpose and the amount of debt so authorized. Notice of the | | special district meeting, stating the approximate amount of the | | debt and the purpose for which it is being issued, must be | | published not less than 7 full |
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