§ 9-21-1010. Notice of Refunding
If, at the time of delivery of the revenue refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding bonds is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to the […]
§ 9-21-1011. Notice of Redemption
If any of the obligations to be refunded are to be called for redemption, the governing body shall cause the notice of redemption to be given in the manner and at the time required by the resolution or ordinance authorizing the outstanding obligations.
§ 9-21-1001. Authorization to Refinance and to Issue Revenue Refunding Bonds
Any local government has the power and is authorized to issue by resolution revenue refunding bonds to refinance outstanding obligations heretofore or hereafter issued or lawfully assumed by the local government which are payable solely from all or any part of the revenues of one (1) or more enterprises, or from a combination of such […]
§ 9-21-1002. 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 § 9-21-1004 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 […]
§ 9-21-1003. Plan of Refunding to Be Submitted to the Comptroller of the Treasury or the Comptroller’s Designee
Prior to the adoption by the governing body of the resolution authorizing the issuance of revenue 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 of […]
§ 9-21-1004. Maximum Amount of Principal for Which Revenue Refunding Bonds May Be Issued
The principal amount of any issue of revenue refunding bonds shall not exceed the sum of the following: The principal amount of the outstanding obligations being refinanced; The redemption premium, if any, thereon; Unpaid interest on the outstanding obligations being refinanced to the date of delivery or exchange of the revenue refunding bonds; The interest […]
§ 9-21-1005. Sale of Revenue Refunding Bonds at Below Par Value
All revenue 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-seven percent (97%) of par value and accrued interest as the governing body of the local government may direct. Nothing in this chapter shall be construed to […]