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2007 Vetoed Bills and Messages
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S.B.1009
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(C) BONDS ISSUED UNDER THIS SECTION SHALL BE AUTHORIZED BY
RESOLUTION OR ORDINANCE OF THE LEGISLATIVE BODY OF THE MUNICIPALITY.
THEY MAY BE ISSUED IN ONE OR MORE SERIES AND SHALL:
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(1) BEAR A DATE OR DATES;
(2) MATURE AT A TIME OR TIMES;
(3) BEAR INTEREST AT A RATE OR RATES;
(4) BE IN A DENOMINATION OR DENOMINATIONS;
(5) BE IN A FORM EITHER WITH OR WITHOUT COUPON OR
REGISTERED;
(6) CARRY A CONVERSION OR REGISTRATION PRIVILEGE;
(7) HAVE A RANK OR PRIORITY;
(8) BE EXECUTED IN A MANNER;
(9) BE PAYABLE IN A MEDIUM OF PAYMENT, AT A PLACE OR
PLACES, AND BE SUBJECT TO TERMS OF REDEMPTION (WITH OR WITHOUT
PREMIUM);
(10) BE SECURED IN A MANNER; AND
(11) HAVE OTHER CHARACTERISTICS, AS ARE PROVIDED BY THE
RESOLUTION, TRUST INDENTURE, OR MORTGAGE ISSUED PURSUANT TO IT.
(D) THESE BONDS MAY NOT BE SOLD AT LESS THAN PAR VALUE AT
PUBLIC SALES WHICH ARE HELD AFTER NOTICE IS PUBLISHED PRIOR TO THE
SALE IN A NEWSPAPER HAVING A GENERAL CIRCULATION IN THE AREA IN
WHICH THE MUNICIPALITY IS LOCATED AND IN WHATEVER OTHER MEDIUM OF
PUBLICATION AS THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE
EXCHANGED ALSO FOR OTHER BONDS ON THE BASIS OF PAR. HOWEVER, THE
BONDS MAY NOT BE SOLD TO THE FEDERAL GOVERNMENT AT PRIVATE SALE AT
LESS THAN PAR, AND, IN THE EVENT LESS THAN ALL OF THE AUTHORIZED
PRINCIPAL AMOUNT OF THE BONDS IS SOLD TO THE FEDERAL GOVERNMENT,
THE BALANCE MAY NOT BE SOLD AT PRIVATE SALE AT LESS THAN PAR AT AN
INTEREST COST TO THE MUNICIPALITY WHICH DOES NOT EXCEED THE
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- 4544 -
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