260C.20 - PAYMENT OF BONDS.
260C.20 PAYMENT OF BONDS.
Taxes for the payment of bonds issued under section 260C.19 shall
be levied in accordance with chapter 76. The bonds shall be payable
from a fund created from the proceeds of the taxes in not more than
twenty years and bear interest at a rate not exceeding the rate
permitted by chapter 74A, and shall be of the form as the board
issuing the bonds shall by resolution provide. Any indebtedness
incurred shall not be considered an indebtedness incurred for general
and ordinary purposes. Section History: Early Form
[C66, 71, 73, 75, 77, 79, 81, § 280A.20] Section History: Recent Form
83 Acts, ch 188, § 2
C93, § 260C.20