35-425. Delivery of bonds
A. When the sale is awarded, the loan commissioners shall procure the necessary
bonds, and, after signing the bonds, deliver them to the state treasurer, taking his
receipt for the bonds, and charging him therewith. The treasurer shall deliver the bonds
to the purchaser for cash, or exchange them for any of the indebtedness for the
redemption of which they were issued.
B. Bonds shall not be sold or exchanged for less than their face value and accrued
interest at the time of delivery, nor shall any indebtedness be redeemed at more than its
face value and accrued interest.
C. The state treasurer shall endorse the time when and the amount for which
exchanged upon the face of the paper evidencing the indebtedness received by him in
exchange.
|