48-5342. Bond requirements
A. The bonds authorized by this article shall:
1. Be authorized by resolution of the board.
2. Bear such date or dates and shall mature at such time or times, not exceeding the earlier of twenty years from their respective dates or the date the transportation excise taxes securing the bonds cease, as the resolution or resolutions may provide.
3. Bear interest at such rate or rates, including rates that may vary from time to time, pursuant to parameters set by the board in the authorizing resolution.
4. Be in the denomination, be in the form, either coupon or registered, be executed in the manner, be payable as to principal, interest or premium in the medium of payment at the office of the state treasurer of this state or at such other place as the board provides either by automatic deposit, wire transfer or mail.
5. Be subject to such terms of redemption, at the option of either the board or the owner of the bond, as the resolution or resolutions may provide.
B. The bonds may be sold at either public or private sale, above, at or below par and on terms the board determines. Bonds to fund or refund other bonds may be exchanged with the holders of bonds being funded or refunded on terms the board determines.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
