7-7-2222. Procedure to issue bonds without election.
176 words·~1 min read·
/mt/title-7/chapter-7/part-22/7-7-2222·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-7-2222 . Procedure to issue bonds without election.
(1)In order to issue bonds for any of the purposes referred to in 7-7-2221 and 7-7-2311 , it shall only be necessary for the board of county commissioners, at a regular or duly called special meeting, to pass and adopt a resolution setting forth the facts in regard to the indebtedness to be paid or bonds to be refunded, showing the reason for issuing such bonds and fixing and determining the details thereof, and give notice of the sale thereof in the same manner that notice is required to be given of the sale of bonds authorized at an election and to then follow the procedure prescribed in this part for the sale and issuance of such bonds.
(2)All bonds sold without submitting the question of their issue to an election, as authorized in 7-7-2221 and 7-7-2311 , shall be sold at open competitive bidding, but all sealed and written bids submitted for the purchase of such bonds shall be considered the same as open bids.