§ 21-33-313. Details of municipal bonds; supplemental powers conferred in issuance of bonds.
177 words·~1 min read·
/ms/title-21-municipalities/article-5-bonds/21-33-313·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
All bonds issued pursuant to this article shall be lithographed or engraved, and printed in two
(2)or more colors, to prevent counterfeiting, and shall be in such denominations as shall be specified by the governing authorities of the municipality. Such bonds shall be registered as issued, be numbered in a regular series from one
(1)upward, and every such bond shall specify on its face the purpose for which it was issued and the total amount authorized to be issued, and shall be made payable to bearer. Interest shall be evidenced by proper coupons thereto attached. The governing authorities of such municipality shall annually levy a special tax upon all of the taxable property within the municipality, which shall be sufficient to provide for the payment of the principal of and the interest on such bonds according to the terms thereof.
Notwithstanding the foregoing provisions of this section, bonds referred to hereinabove may be issued pursuant to the supplemental powers and authorizations conferred by the provisions of the Registered Bond Act, being Sections 31-21-1 through 31-21-7.