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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) Bonds issued by the board of county commissioners:
(i) Shall bear lawful interest rates;
(ii) Shall be payable annually or semiannually;
(iii) May be evidenced by one (1) or two (2) sets of coupons if any but the first coupon may evidence interest for period not in excess of one (1) year;
(iv) May be in one (1) or more series;
(v) May be issued on different dates;
(vi) Shall mature no later than twenty-five (25) years from their date of issue;
(vii) May be in different denominations;
(viii) Shall be payable in a designated medium of payment at any designated place;
(ix) May carry registration privileges;
(x) May be subject to redemption before maturity in order or by lot or otherwise at designated times, with or without premium;
(xi) May bear privileges for reissuance and may be reissued in the same or other denominations without modification of maturities and interest rates;
(xii) May be in either coupon or registered form;
(xiii) With interest coupons attached thereto shall be fully negotiable as provided by the Uniform Commercial Code--Investment Securities [§§ 34.1-8-101 through 34.1-8-603].
(b) Each holder of the bond or coupon, by accepting same does conclusively agree that the bond or coupon except as otherwise provided is fully negotiable within the meaning of the Uniform Commercial Code--Investment Securities [§§ 34.1-8-101 through 34.1-8-603].
(c) The various annual maturities shall commence not later than the fifth year after the date of the bonds. All bonds shall mature serially in any manner the board may determine.
Cite this article: FindLaw.com - Wyoming Statutes Title 18. Counties § 18-4-304. Form; terms; conditions - last updated January 01, 2024 | https://codes.findlaw.com/wy/title-18-counties/wy-st-sect-18-4-304/
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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