§ 17C-1-501. Resolution authorizing issuance of agency bonds -- Characteristics of bonds.

(1) An agency may not issue bonds under this part unless the agency board first adopts a resolution authorizing their issuance.

(2)

(a) As provided in the agency resolution authorizing the issuance of bonds under this part or the trust indenture under which the bonds are issued, bonds issued under this part may be issued in one or more series and may be sold at public or private sale and in the manner provided in the resolution or indenture.

(b) Bonds issued under this part shall bear the date, be payable at the time, bear interest at the rate, be in the denomination and in the form, carry the conversion or registration privileges, have the rank or priority, be executed in the manner, be subject to the terms of redemption or tender, with or without premium, be payable in the medium of payment and at the place, and have other characteristics as provided in the agency resolution authorizing their issuance or the trust indenture under which they are issued.

Renumbered and Amended by Chapter 359, 2006 General Session