NOTE: §1012 eff. until July 1, 2021. See Acts 2018, No. 569.
§1012. Resolution; nature and form of bonds
Bonds and other debt obligations may be issued by the political subdivision under the authority conferred in this Part for such purposes and in such amount or amounts as the political subdivision may determine. Such bonds or other debt obligations shall be authorized by a resolution of the board and shall be of such series, bear such date or dates, mature at such time or times not exceeding twenty-five years from their respective dates, bear interest, payable semiannually or annually, be in such denominations, be in such form, either coupon or fully registered without coupons, carry such registration and exchangeability privilege, be payable in such median or payment and at such place or places, be subject to such terms of redemption, not exceeding one hundred five percent of the principal amount thereof, and be entitled to such priority on the revenues from the revenue producing work of public improvement as such resolution or resolutions may provide.
NOTE: §1012 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
§1012. Repealed by Acts 2018, No. 569, §2, eff. July 1, 2021.
Added by Acts 1977, No. 706, §1; Acts 2018, No. 569, §2, eff. July 1, 2021.
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