15-1483. Issuance of bonds
A. The board for and on behalf of an institution is authorized from time to time to
issue negotiable bonds for the purpose of acquiring a project or projects. The bonds
shall be authorized by resolution of the board. The bonds may be issued in one or more
series, bear such date or dates, be in such denomination or denominations, mature at such
time or times, not exceeding forty years from the respective dates thereof, mature in
such amount or amounts, bear interest at such rate or rates, as determined by the board,
payable semiannually, be in such form either coupon or registered, carry such
registration privileges, be executed in such manner, be payable in such medium of
payment, at such place or places, and be subject to such term of redemption, with or
without premium, as such resolution or other resolutions may provide. The bonds may be
sold at not less than par at either public or private sale. The bonds shall be fully
negotiable within the meaning and for all the purposes of title 47, chapter 3.
B. Before the issuance of bonds, a district shall submit information regarding the
planned projects that will be funded with the bond proceeds to the joint committee on
capital review for review. If a bond issuance requires voter approval, the district shall
submit the information to the joint committee on capital review before seeking voter
approval.
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