All bonds issued pursuant to this article shall mature in such annual series or installments as the commission shall prescribe, except that the first maturing bonds of any issue shall mature not later than five years from the date as of which they shall be issued. No bond shall mature later than forty years from the date as of which it shall be issued.
HISTORY: 1962 Code Section 59-599.61; 1974 (58) 2787; 1975 (59) 268.