63H-1-601 - Resolution authorizing issuance of authority bonds -- Characteristics of bonds.
63H-1-601. Resolution authorizing issuance of authority bonds -- Characteristics ofbonds.
(1) The authority may not issue bonds under this part unless the authority board firstadopts a resolution authorizing their issuance.
(2) (a) As provided in the authority resolution authorizing the issuance of bonds underthis part or the trust indenture under which the bonds are issued, bonds issued under this part maybe issued in one or more series and may be sold at public or private sale and in the mannerprovided in 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 authority resolution authorizing their issuance or thetrust indenture under which they are issued.
Enacted by Chapter 23, 2007 General Session