§ 9-21-913. 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 such outstanding obligations.
§ 9-21-914. Application of Proceeds of Sale of General Obligation Refunding Bonds
The principal proceeds from the sale of any general obligation refunding bonds shall be applied only as follows, either to the: Immediate payment and retirement of the obligations being refunded; or Extent not required for the immediate payment of the outstanding obligations being refunded, the proceeds of the general obligation refunding bonds shall be deposited […]
§ 9-21-915. Powers to Secure and to Covenant as to General Obligation Refunding Bonds
In order to secure the payment of the principal of and interest on general obligation refunding bonds issued pursuant to this part and part 1 of this chapter, or in connection with such bonds, any local government shall have the power as to such bonds to: Pledge the full faith, credit and unlimited taxing power […]
§ 9-21-916. Remedies of General Obligation Refunding Bondholders
Any holder of general obligation refunding bonds issued pursuant to this part and part 1 of this chapter shall have all rights provided in § 9-21-216, in addition to all other rights provided by law.
§ 9-21-912. Notice of Refunding
If, at the time of delivery of the general obligation refunding bonds, the obligations to be refunded will not be retired or a valid and timely notice of redemption of the outstanding obligations is not given in accordance with the resolution, indenture or other instrument governing the redemption of the outstanding obligations, then, prior to […]
§ 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 […]