§ 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 […]
§ 9-21-405. Definition of “period.”
“Period,” as used in this part and parts 5-8 of this chapter, includes in each instance any number of portions of time not exceeding in the aggregate the length of time included in such period.
§ 9-21-406. Nonconforming Obligations
Any note or promise to repay money (herein called “obligation”) issued or made under this chapter contrary to requirements precedent to the issuance of notes under this part and parts 5-8 of this chapter, as the case may be, shall be considered nonconforming and shall be subject to the restrictions and penalties of this section. […]
§ 9-21-407. Remedies of Noteholders
Any holder of notes issued pursuant to this chapter has the right, in addition to all other rights: By mandamus or other suit, action or proceeding in any court of competent jurisdiction to enforce such holder’s rights against the local government, the governing body of the local government and any officer, agent, or employee of […]
§ 9-21-408. Interfund Loans
Local governments are hereby authorized to make interfund loans in accordance with procedures for issuance of notes or bonds in part 5, 7 or 8 of this chapter or § 9-21-604. Local governments are hereby authorized to make interfund loans in accordance with the procedures of § 9-21-604(b) of all funds derived from the sale […]
§ 9-21-501. Authorization for the Issuance of Bond Anticipation Notes
The governing body of the local government acting by resolution is hereby authorized to issue and sell interest-bearing bond anticipation notes for all purposes for which bonds can be legally authorized and issued by a local government for public works projects as defined by this chapter, and for purposes authorized by chapter 11 of this […]
§ 9-21-502. Purchase and Terms of Bond Anticipation Notes
Bond anticipation 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. Bond anticipation notes may be sold in one (1) or more series, may bear such date or dates, may bear interest at such rate […]
§ 9-21-503. Method of Sale of Bond Anticipation Notes
Bond 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.
§ 9-21-504. Security for Bond Anticipation Notes
Bond anticipation notes issued in anticipation of bonds secured by the full faith and credit of the local government shall be secured by a pledge of the taxing power of the local government, as to all taxable property in the local government or a portion of the local government, if applicable, which shall be subject […]