Issuance and sale of bonds--Reference to ordinance for matters not covered in bonds--Negotiability.

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  5. Issuance and sale of bonds--Reference to ordinance for matters not covered in bonds--Negotiability.

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9-51-16. Issuance and sale of bonds--Reference to ordinance for matters not covered in bonds--Negotiability.

Bonds shall be issued and sold as provided in chapter 6-8B, except that no election shall be required other than as provided in §9-51-14. All bonds may refer to the ordinance for matters not expressed in the bonds, but they shall be negotiable investment securities within the meaning of chapter 57A-8, notwithstanding any conditions expressed therein or in the ordinance.

Source: SL 1955, ch 216, §5; SDC Supp 1960, §45.02A05; SL 1984, ch 43, §92.


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