ยง53-30 - Income debentures.
ยง53-30ย Income debentures.ย With the
approval of the redevelopment agency, the articles of association, or amended
articles, may authorize the issuance of income debenture certificates bearing
no greater interest than six per cent a year.ย The income debenture
certificates and any instrument under which they are issued may contain other
provisions, including provisions for amortization by serial maturities, through
the operation of a sinking fund or otherwise, which may be approved by the
agency. [L 1949, c 379, ยง13; RL 1955, ยง143-29; HRS ยง53-30]