7-7-2212. Citizen bonds authorized.
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/mt/title-7/chapter-7/part-22/7-7-2212·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-7-2212 . Citizen bonds authorized.
(1)A county authorized to sell general obligation bonds under this chapter may issue and sell a portion of the bonds in denominations of less than $5,000 by:
(a)competitive public sale, directly to members of the public, at preestablished interest rates; or
(b)private sale pursuant to 17-5-107 .
(2)Bonds issued under 7-7-2212 through 7-7-2215 may be known as "citizen bonds".
(3)Citizen bonds may be issued for any purpose for which a county may issue general obligation bonds.
(4)An officer, employee, contracted financial consultant, or contracted adviser employed or retained by a county selling citizen bonds may not purchase those bonds.