16-5-404. Authorizing instrument.
(a) Anticipation notes issued pursuant to this act shall be authorized by instrument of the issuer which shall:
(i) Describe the bonds in anticipation of which the notes are to be issued;
(ii) Declare the results of the election authorizing the issuance of the bonds wherein the qualified electors of the issuer have approved their issuance in the manner required by law;
(iii) Specify the principal amount of the anticipation notes, the rate of interest and maturity date or dates of the anticipation notes, which maturity date or dates shall not exceed three (3) years from the date of issue of the anticipation notes.
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