17C-1-501 - Resolution authorizing issuance of agency bonds -- Characteristics of bonds.
17C-1-501. Resolution authorizing issuance of agency bonds -- Characteristics ofbonds.
(1) An agency may not issue bonds under this part unless the agency board first adopts aresolution authorizing their issuance.
(2) (a) As provided in the agency resolution authorizing the issuance of bonds under thispart or the trust indenture under which the bonds are issued, bonds issued under this part may beissued in one or more series and may be sold at public or private sale and in the manner providedin the resolution or indenture.
(b) Bonds issued under this part shall bear the date, be payable at the time, bear interestat the rate, be in the denomination and in the form, carry the conversion or registration privileges,have the rank or priority, be executed in the manner, be subject to the terms of redemption ortender, with or without premium, be payable in the medium of payment and at the place, andhave other characteristics as provided in the agency resolution authorizing their issuance or thetrust indenture under which they are issued.
Renumbered and Amended by Chapter 359, 2006 General Session