Bonds, notes, and other forms of indebtedness may be issued in one or more series at those prices, may bear the date, may mature at the time, not exceeding forty years from their respective date, may bear interest at the fixed or variable rate, may be payable in the medium of payment and at the place, may be in the denomination, may be in the form, either coupon or registered and either certified or uncertified, may carry the registration privileges, may be subject to the terms of redemption before maturity, with or without premium, and may contain terms, covenants, and conditions as the resolution authorizing the issuance of the bonds, notes, and other forms of indebtedness may provide. Except as otherwise specified in the authorizing resolution, the bonds, notes, and other forms of indebtedness are fully negotiable within the meaning of and for all the purposes of the Uniform Commercial Code.
HISTORY: 2005 Act No. 44, Section 1, eff May 3, 2005.