Section 9-806 - Bond provisions in resolution.
§ 9-806. Bond provisions in resolution.
(a) Recital.- The authorizing resolution may provide that the bonds shall contain a recital that they are issued under this subtitle.
(b) Payment.- The authorizing resolution shall state that the interest on bonds issued under this subtitle shall be payable twice a year.
(c) Provisions for form, content, and terms.- The authorizing resolution or any subsequent resolution may provide that the bonds issued under this subtitle:
(1) Be in 1 or more series;
(2) Bear a certain date or dates;
(3) Be executed in a certain manner;
(4) Contain certain terms, covenants, and conditions;
(5) Be in coupon or registered form, or both;
(6) May mature at a certain time or times, but not later than 40 years from their respective dates of issuance;
(7) Be payable in a certain medium of payment;
(8) Be payable at a certain place or places;
(9) Carry certain registration privileges; and
(10) Be subject to certain terms of redemption.
[An. Code 1957, art. 43, §§ 431, 433; 1982, ch. 240, § 2.]