10-631.   Act applicable at the election of issuer; rescission of electionprohibited; applicable to previously issued bonds.(a) At the election of the issuer, made at any time prior to or at originalissuance of the bond, this act may be made applicable,notwithstanding any provision of law to the contrary. When this act is applicable,it is alternative to any provision of law to the contrary and no such provisionto the contrary shall apply.

      (b)   The public entity that authorizes the original issuance of the bondmay make the election of the issuer which shall be part of the ordinanceor resolution authorizing such issuance.

      (c)   An issuer shall not rescind an election after original issuance of the bond.

      (d)   Nothing in this act shall limit or prevent the issuance of bonds inany other form or manner authorized by law.

      (e)   The provisions of this act may be made applicable to bonds which haveheretofore been authorized and issued.

      History:   L. 1983, ch. 49, § 12; May 12.