12-3428. Same; sale of bonds; conditions.
12-3428
12-3428. Same; sale of bonds; conditions.
All bonds sold hereunder may be sold at public or private sale in the
discretion of the board of directors. If such bonds are sold at public
sale, they shall be awarded to the best bidder, based upon an open
competitive public offering. Notice of sale of such bonds shall be
advertised at least fourteen (14) days in advance of the time of receiving
bids and said notice shall appear at least once a week for two (2)
successive weeks in a newspaper of general circulation in the county where
the principal office of the port authority is located. No bonds shall be
sold for less than par value.
History: L. 1969, ch. 89, § 28; July 1.