63B-6-404 - Manner of issuance -- Amounts, interest, and maturity.
63B-6-404. Manner of issuance -- Amounts, interest, and maturity.
(1) Bonds issued under this chapter may be authorized, sold, and issued at times and in amanner determined by the commission by resolution.
(2) Bonds may be issued in one or more series, in amounts, and shall bear dates, interestrate or rates, including a variable rate, and maturity dates as the commission determines byresolution.
(3) A bond issued may not mature later than 20 years after the date of final passage ofthis chapter.
Enacted by Chapter 391, 1997 General Session