§ 4-15-30. When counties may issue bonds; amount.
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/sc/title-4-counties/chapter-15/county-bonds/4-15-30·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 4-15-30. When counties may issue bonds; amount.
(A)The authorities of a county may issue general obligation bonds of the county to defray the cost of any authorized purpose and for any amount not exceeding its applicable constitutional debt limit, if:
(1)the election required by this chapter as a condition precedent to the issuance of bonds is favorable; and
(2)the bonds are issued within five years following the holding of the election.
(B)Bonds issued pursuant to the provisions of this chapter may be issued in either a single issue or from time to time as several separate issues.
(C)The five-year period required in (A)(2) of this section is tolled while litigation contesting the validity of the election is pending.