46A-6-23. Interest on due and unpaid interest coupons of bonds--Election to authorize--Form of ballots.

145 words·~1 min read·/sd/title-46/chapter-46-6/46a-6-23

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A district by a majority vote may provide and authorize the payment of interest on any or all due and unpaid interest coupons attached to valid and outstanding bonds of the district heretofore or hereafter issued and sold, from the date of registration of the interest coupons for payment or, if previously registered, from the date of election to pay interest, until paid. The question may be submitted at any general or special election of the district by ballot, which shall generally describe the bonds to which the coupons are attached by number, series, and date of issue. The ballots shall be in substantially the following form:

For the payment of interest on coupons attached to bonds numbered ____, series ____, dated ____ at ____ percent per annum--Yes (or No).

The election shall be governed by the law relating to bond elections in these districts.