§ 38-130. Terms of the bonds.  


Latest version.
  • The bonds shall be dated, shall bear interest at such rate, and shall mature at such times, as may be determined by resolution of the board, and may be made redeemable before maturity, at the option of the county, at such price and under such terms and conditions as may be fixed by the board. Said bonds shall mature not later than two years after the last installment in which said assessments may be paid, as provided in section 38-61, and shall bear interest at a rate not exceeding the maximum rate provided by law. The bonds may, at the option of the board, bear interest at a variable rate. The board shall determine by resolution the form of the bonds, the manner of executing such bonds, and shall fix the denomination or denominations of such bonds, the place of payment of the principal and interest, which may be at any bank or trust company within or without the state, and such other terms and provisions of the bonds as it deems appropriate. The bonds may be sold at public or private sale for such price or prices as the board shall determine by resolution. The bonds may be delivered to any contractor for payment for his work in constructing a capital project or may be sold in such manner and for such price as the board may determine by resolution to be in the best interests of the county.

(Ord. No. 2004-04, § 6.02, 1-27-2004)