Section 8-120 – Resolution of Board — Specific Provisions

    By resolution, the Board may provide that the State bonds authorized by an enabling act:

        (1)    be in 1 or more series;

        (2)    bear a certain date of issue;

        (3)    be executed in a certain manner;

        (4)    be sold in a certain manner at public or private, negotiated sale;

        (5)    be in certain denominations, not necessarily in equal paramounts;

        (6)    mature in certain amounts at certain times, not necessarily in consecutive annual installments, but not later than 15 years after their respective dates of issue;

        (7)    bear interest at certain rates or at rates to be determined in the manner stated in the resolution; and

        (8)    be paid, as to principal and interest, at certain places.