ยง53-30 - Income debentures.
ยง53-30ย Income debentures.ย With theapproval of the redevelopment agency, the articles of association, or amendedarticles, may authorize the issuance of income debenture certificates bearingno greater interest than six per cent a year.ย The income debenturecertificates and any instrument under which they are issued may contain otherprovisions, including provisions for amortization by serial maturities, throughthe operation of a sinking fund or otherwise, which may be approved by theagency. [L 1949, c 379, ยง13; RL 1955, ยง143-29; HRS ยง53-30]