85-7-2023. Notice of sale of bonds.
218 words·~1 min read·
/mt/title-85/chapter-7/part-20/85-7-2023·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
85-7-2023 . Notice of sale of bonds. Except as provided in 85-7-2033 regarding a private sale, before making any sale, the board shall, by resolution at a meeting, declare its intention to sell a specified amount of the bonds and the day, hour, and place of the sale. The board shall enter the resolution into the minutes and provide notice of the sale by publication at least once a week for 3 successive calendar weeks in a newspaper in the county where the office of the board of commissioners is located, and the notice may be published in any other newspaper at the board's discretion.
The notice must state that sealed proposals will be received by the board at its office for the purchase of bonds until the day and hour named in the resolution. At the time appointed, the board shall open the proposals and award the purchase of the bonds or any portion or portions of the bonds to the highest responsible bidder or bidders. The board may reject any or all bids. If an award is not made, the board may either readvertise the bonds or any part of the bonds for sale or sell the bonds or any part of the bonds at private sale.
Coupons evidencing unearned interest must be detached and canceled.