Sec. 7-273gg. Form. Maturity. Investment of proceeds.
Sec. 7-273gg. Form. Maturity. Investment of proceeds. Bonds issued under the
authority of this chapter shall be executed and delivered in such manner and at such
times, may be in such form and denominations, bear such date or dates, be sold at such
prices and mature at such time or times not exceeding thirty years from the date thereof
as the body having power to authorize such bonds shall determine. The bonds may be
issued as serial bonds or as term bonds or as a combination thereof. The bonds shall be
in such denominations, be in such form, either bearer or registered as to principal and
interest or as to principal alone or in book entry form, carry such exchange, transfer
and registration privileges, be executed in such manner, be payable in such medium of
payment, at such place or places whether within or without the state, and be subject
to such terms of redemption as the body having power to authorize such bonds shall
determine. The proceeds from the sale of the bonds may be invested and reinvested in
such obligations, securities and other investments or deposited or redeposited in such
bank or banks as the body having power to authorize such bonds shall determine.
(P.A. 81-213, S. 9, 18; P.A. 85-478, S. 7, 10.)
History: P.A. 85-478 struck previous section and inserted present provisions allowing issuing authority to determine
the form and maturity of the bonds and inserted provisions regarding investment of proceeds.