RS 1013 - Issuance; interest
A. The bond or other debt obligations may be issued all at one time or they may be issued from time to time, as the governing body, in its discretion, may determine. They shall bear interest at a rate not to exceed eight percent per annum from their respective date or dates of issue.
B. The bonds or other debt obligations shall be signed by the presiding officer and the secretary or clerk of the governing body under the official seal of the governing authority, if it has one, in such manner as may be provided in the resolution authorizing their issuance.
C. The bonds or other debt obligations shall be sold in such manner and at such time as the governing body may determine, except that in no event shall the bonds be sold at a price less than par plus accrued interest to date of delivery at public or private sale.
NOTE: §1013 as repealed by Acts 2018, No. 569, eff. July 1, 2021.
RS 1013 - Repealed by Acts 2018, No. 569, §2, eff.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.