§ 9-21-902. Determination by Governing Body to Be Conclusive
A determination by the governing body that any refunding is advantageous or necessary to the local government, or that any of the amounts provided in § 9-21-904 should be included in such refunding, or that any of the outstanding obligations should be called for redemption on the first or any subsequent available redemption date or […]
§ 9-21-903. Plan of Refunding to Be Submitted to the Comptroller of the Treasury or the Comptroller’s Designee — Publication of Notice of Refunding
Prior to the adoption by the governing body of the resolution authorizing the issuance of general obligation refunding bonds, a plan of refunding shall be submitted for review to the comptroller of the treasury or the comptroller’s designee, who shall immediately acknowledge receipt in writing of the proposed plan of refunding. If the sole purpose […]
§ 9-21-904. Maximum Amount of Principal for Which General Obligation Refunding Bonds May Be Issued
The principal amount of any issue of general obligation refunding bonds shall not exceed the sum of the following: The principal amount of the outstanding obligations to be refunded; provided, that general obligation refunding bonds may be issued in such amounts to permit any part of the bonds to reflect a zero (0) rate of […]
§ 9-21-905. Initial Resolution and Election Requirements — When Required
If the general obligation refunding bonds shall be payable from ad valorem taxes without limitation of rate or amount and the outstanding obligations to be refunded are secured solely by the revenues of a public works project, then an initial resolution authorizing general obligation refunding bonds shall be adopted in conformance with § 9-21-205 and […]
§ 9-21-906. Sale of General Obligation Refunding Bonds at Below Par Value
All general obligation refunding bonds issued by any local government under the authority of this part and part 1 of this chapter shall be sold for not less than ninety-eight percent (98%) of par value and accrued interest as the governing body of the local government may direct. Nothing in this chapter shall be construed […]
§ 9-21-907. Terms of General Obligation Refunding Bonds
The general obligation refunding bonds may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times not exceeding forty (40) years from their respective dates, may bear interest at a zero (0) rate or at such other rate or rates (which may vary from […]
§ 9-21-612. Refunding of Capital Outlay Notes
Capital outlay notes issued pursuant to this part and general obligation bonds may be refunded by issuing capital outlay notes under this part, in accordance with the requirements and procedures set forth in this part and in §§ 9-21-903, 9-21-904, 9-21-910, 9-21-912, 9-21-913 and 9-21-914. The final maturity date of the refunding notes shall not […]
§ 9-21-701. Authorization for the Issuance of Grant Anticipation Notes
The governing body of a local government, acting by resolution, is hereby authorized to issue and sell interest-bearing grant anticipation notes for public works projects secured solely by a pledge of moneys, which pledge shall not be less than the principal amount of such notes, to be received pursuant to a contract or agreement between […]
§ 9-21-702. Terms of Grant Anticipation Notes
Grant anticipation notes shall be sold at not less than par value and accrued interest. Grant anticipation notes may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times, may bear interest at such rate or rates (which may vary from time to time), […]
§ 9-21-703. Method of Sale of Grant Anticipation Notes
Grant anticipation notes may be sold in such manner either at a competitive public sale or at a private negotiated sale as the governing body of the local government may direct.