§ 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 […]
§ 9-21-904. 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 […]
§ 9-21-908. Limitation on Maturity of Bonds to Be Refunded
Unless the outstanding obligations are retired at the time of delivery of the general obligation refunding bonds, then the general obligation refunding bonds shall not be issued to refund the outstanding obligations unless the outstanding obligations shall mature by their terms, or shall be subject to redemption and be called for redemption within ten (10) […]
§ 9-21-909. Installment Sales and Exchanges
General obligation refunding bonds may be sold or exchanged in installments at different times or an entire issue or series may be sold or exchanged at one (1) time. Any issue or series of general obligation refunding bonds may be exchanged in part or sold in part in installments at different times or at one […]
§ 9-21-910. Sale of General Obligation Refunding Bonds — Notices — Agreement to Sell
Any local government of this state proposing to sell general obligation refunding bonds for any authorized purpose under this part and part 1 of this chapter is authorized to sell such bonds either at a competitive public sale or at a private negotiated sale as the governing body of the local government may direct. However, […]
§ 9-21-911. Sale of General Obligation Refunding Bonds to a State or Federal Agency
If any general obligation refunding bonds are to be sold pursuant to a commitment of a state or federal agency to purchase the same, such bonds may be sold at a private negotiated sale to the state or federal agency without the necessity of any public advertisement of the sale or of the approval of […]