9-41A-39. Terms of bonds and notes.

136 words·~1 min read·/sd/title-9/chapter-9-41/9-41a-39

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

Bonds or notes of a municipal power agency shall be authorized by resolution of its board of directors and may be issued under the resolution or under a trust indenture or other security agreement, in one or more series, and shall:

(1)Bear such date or dates;

(2)Mature at such time or times;

(3)Bear interest at such rate or rates;

(4)Be in such denominations;

(5)Be in such form, either coupon or registered;

(6)Carry such conversion, registration, and exchange privileges;

(7)Have such rank or priority;

(8)Be executed in such manner;

(9)Be payable in such medium of payment at such place or places within or outside the state;

(10)Be subject to such terms of redemption with or without premium; and

(11)Contain or be subject to such other terms