11-11-52. Terms of notes and bonds--Maturity--Form of instruments--Interest--Redemption--Sale.
145 words·~1 min read·
/sd/title-11/chapter-11-11/11-11-52·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The notes and bonds shall be authorized by resolutions of the authority, and shall bear such dates and shall mature at such times as such resolutions may provide. However, no bond may mature more than fifty years from the date of its issue. The bonds may be issued as serial bonds payable in annual installments or as term bonds or as a combination thereof. The notes and bonds shall bear interest at such rates, be in such denominations, be in such form, carry such registration privileges, be executed in such manner, be payable in such medium of payment, at such places within or without the state, and be subject to such terms of redemption as such resolutions may provide.
The notes and bonds of the authority may be sold by the authority, at public or private sale, at such prices as the authority shall determine.