7-7-4205. Term of general obligation bonds.
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/mt/title-7/chapter-7/part-42/7-7-4205·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
7-7-4205 . Term of general obligation bonds.
(1)Bonds for any purpose may not be issued for a longer term than 20 years.
(2)For purposes of this section, the term of a bond issue commences on July 1 of the fiscal year in which the city first levies taxes to pay principal and interest on the bonds.