§ 29-14-101. Short Title

This article shall be known and may be cited as the “Bond Anticipation Note Act”. Source: L. 81: Entire article added, p. 1419, § 1, effective July 1.

§ 29-14-102. Legislative Declaration

The general assembly hereby declares that the issuance of bond anticipation notes by any public body as defined in section 29-14-103 (6), when advantageous to the public body or the citizens thereof, will serve a public use and will promote the health, safety, security, and general welfare of the citizens thereof and of the people […]

§ 29-14-103. Definitions

As used in this article, unless the context otherwise requires: “Bond” means any bond, debenture, or other obligation authorized to be issued by a public body pursuant to any provision of law of the state. “Bond anticipation note” means any note, interim debenture, or other security evidencing an obligation and issued pursuant to this article. […]

§ 29-14-104. Issuance of Bond Anticipation Notes

Any public body may issue from time to time its bond anticipation notes for any purposes lawfully authorized to be undertaken by such public body or to redeem outstanding bond anticipation notes. Such bond anticipation notes shall be issued in anticipation of the issuance of bonds by the public body. Except as provided in this […]

§ 29-14-105. Bond Anticipation Note Details

Any bond anticipation notes may mature at such time not exceeding a period of time equal to the estimated time needed to effect the purpose for which they are issued, but not exceeding five years from the date or respective dates of the bond anticipation notes, as the governing body may determine. Bond anticipation notes […]

§ 29-14-106. Limitations on Issuance

If the bond anticipation notes are being issued in anticipation of bonds which constitute an indebtedness, such bond anticipation notes shall not be issued: Unless the bonds have been authorized at an election as required by section 6 of article XI of the state constitution; In a principal amount in excess of the amount of […]

§ 29-14-107. No Action Maintainable

No action or proceeding, at law or in equity, to review any acts or proceedings, or to question the validity or enjoin the performance of any act, or the issuance of any bond anticipation notes authorized by this article, or for any other relief against any acts or proceedings done or had under this article, […]

§ 29-14-108. Validation

All bond anticipation notes and any coupons appertaining thereto issued or purportedly issued prior to July 1, 1981, and all acts or proceedings had or taken or purportedly had or taken prior to said date by or on behalf of public bodies, under law or under color of law, preliminary to and in the authorization, […]

§ 29-14-109. Effect of and Limitations Upon Validation

This article shall operate to supply such legislative authority as may be necessary to validate any such bond anticipation notes issued prior to July 1, 1981, of such public bodies and any acts and proceedings taken appertaining to the issuance of such bond anticipation notes by such public bodies or otherwise prior to said date […]

§ 29-14-110. Application to Certain Public Bodies

It is the intent of the general assembly that the provisions of this article shall apply to home rule municipalities except insofar as superseded by charter or ordinance passed pursuant to such charter and shall apply to special territorial charter municipalities. Source: L. 81: Entire article added, p. 1422, § 1, effective July 1.