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Current as of January 01, 2024 | Updated by Findlaw Staff
Bonds of an authority must be issued pursuant to a resolution of the commissioners thereof. The resolution must specify:
1. Whether the bonds must be issued in one or more series.
2. The date or dates which the bonds must bear.
3. The time or times at which the bonds must mature.
4. The interest rate or rates.
5. The denomination or denominations in which the bonds must be issued.
6. The form, either coupon or registered, in which the bonds must be issued.
7. The conversion or registration privileges, if any, which the bonds must carry.
8. The rank or priority which must exist between various issues of bonds and various kinds of bonds issued.
9. The manner in which the bonds must be executed.
10. The medium in which the bonds must be payable.
11. The place or places at which the bonds must be payable.
12. The terms of redemption, and whether with or without premium, to which the bonds are subject.
The conditions specified in the resolution may be printed in any trust indenture or mortgage given by the authority to secure any bonds issued by it.
Cite this article: FindLaw.com - North Dakota Century Code Title 23. Health and Safety § 23-11-19. Bonds--Issued pursuant to resolution--General provisions - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-23-health-and-safety/nd-cent-code-sect-23-11-19/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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