§ 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 […]
§ 9-21-602. Purchase Price and Terms of Capital Outlay Notes — Interest Rate Agreements
Capital outlay notes shall be sold for not less than ninety-nine percent (99%) of the par value thereof and accrued interest as the governing body of the local government may direct. Capital outlay notes may be sold in one (1) or more series, may bear such date or dates, may bear interest at such rate […]
§ 9-21-603. Security for Capital Outlay Notes
When the capital outlay notes are issued and sold, they shall be direct obligations of the local government, the payments of which shall be made according to the tenor and effect thereof, to which shall be pledged the taxing power of the local government as to all taxable property in the local government. The governing […]
§ 9-21-604. Three-Year Capital Outlay Notes Subject to Periodic Renewals
Capital outlay notes issued pursuant to this section may be issued for a period not to exceed the end of the third fiscal year following the fiscal year in which the notes were issued; provided, that, with the approval of the comptroller of the treasury or the comptroller’s designee, the maturity date of such notes […]
§ 9-21-605. Capital Outlay Notes Issued Solely for the Acquisition of a Fee Simple Absolute Interest in Land
Capital outlay notes issued solely for the acquisition of a fee simple absolute interest in land pursuant to this section may be issued for a period not to exceed the end of the tenth fiscal year following the fiscal year in which the notes were issued. Each fiscal year any notes are outstanding following the […]
§ 9-21-606. Application for Extension or Renewal of Three-Year Capital Outlay Notes and Capital Outlay Notes Issued for the Acquisition of Land — Retirement of Notes
Application to the comptroller of the treasury or the comptroller’s designee for an extension or renewal of the maturity date of capital outlay notes issued under §§ 9-21-604 and 9-21-605 shall be by resolution of the governing body of the local government. No capital outlay notes shall be converted to bonds later than two (2) […]
§ 9-21-607. Method of Sale of Three-Year Capital Outlay Notes and Seven-Year Capital Outlay Notes
Notes authorized to be issued under §§ 9-21-604 and 9-21-605 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.
§ 9-21-608. Twelve-Year Capital Outlay Notes
Capital outlay notes issued pursuant to this section may be issued for a period greater than the end of the third fiscal year following the fiscal year in which the notes were issued, but not greater than the end of the twelfth fiscal year following the fiscal year in which the notes were issued. Each […]
§ 9-21-609. Method of Sale of Twelve-Year Capital Outlay Notes
Capital outlay notes authorized under § 9-21-608 may be sold either at a competitive public sale or by an informal bid process in which, whenever possible, at least three (3) financial institutions are contacted by telephone or letter and asked to provide a rate or rates of interest for the term or terms of such […]
§ 9-21-610. Application for Extension or Renewal of Capital Outlay Notes Issued for Greater Than Three (3) Years but Not Greater Than Twelve (12) Years — Renewal of Notes
Application to the comptroller of the treasury or the comptroller’s designee for an extension or renewal of the maturity date of capital outlay notes described in § 9-21-608 shall be by resolution of the governing body of the local government, and such extension or renewal shall not extend the final maturity date of the notes […]