§ 42-55-13 Bonds and notes. – (a) The corporation shall have the power and is hereby authorized to issue fromtime to time its negotiable notes and bonds, whether tax exempt or taxable inthe principal amount that the corporation shall determine to be necessary toprovide sufficient funds for achieving any of its corporate purposes includingthe payment of interest on the notes and bonds of the corporation,establishment of reserves to secure those notes and bonds including the reservefunds created pursuant to § 42-55-14, and all other expenditures of thecorporation incident to and necessary or convenient to carry out its corporatepurposes and powers.
(2) The corporation shall have the power, from time to time,to issue (i) notes to renew notes and (ii) bonds to pay notes, including theinterest on these notes and, whenever it deems refunding expedient, to refundany bonds by the issuance of new bonds, whether the bonds to be refunded haveor have not matured, and to issue bonds partly to refund bonds then outstandingand partly for any of its corporate purposes.
(3) Except as may otherwise be expressly provided byresolution of the corporation, every issue of its notes and bonds shall begeneral obligations of the corporation payable out of any revenues or moneys ofthe corporation, subject only to any agreements with the holders of particularnotes or bonds pledging any particular revenues.
(4) Notwithstanding any other provision contained in thissection, proceeds of bonds issued by the corporation may be used to finance anyhousing development that constitutes a qualified residential rental projectunder § 142 of the Internal Revenue Code of 1986, 26 U.S.C. § 142,and all regulations promulgated thereunder.
(b) The notes and bonds shall be authorized by resolution orresolutions of the corporation, shall bear the date or dates and shall matureat the time or times that the resolution or resolutions may provide, exceptthat no bond shall mature more than sixty-five (65) years from the date of itsissue. The bonds may be issued as serial bonds payable in annual installmentsor as term bonds or as a combination of bonds. The notes and bonds shall bearinterest at the rate or rates, be in the denominations, be in the form, eithercoupon or registered, carry the registration privileges, be executed in themanner, be payable in the medium of payment, at the place or places within orwithout the state and be subject to the terms or redemption that the resolutionor resolutions may provide. The notes and bonds of the corporation may be soldby the corporation, at public or private sale, at the price or prices that thecorporation shall determine.
§ 42-55-13 Bonds and notes. – (a) The corporation shall have the power and is hereby authorized to issue fromtime to time its negotiable notes and bonds, whether tax exempt or taxable inthe principal amount that the corporation shall determine to be necessary toprovide sufficient funds for achieving any of its corporate purposes includingthe payment of interest on the notes and bonds of the corporation,establishment of reserves to secure those notes and bonds including the reservefunds created pursuant to § 42-55-14, and all other expenditures of thecorporation incident to and necessary or convenient to carry out its corporatepurposes and powers.
(2) The corporation shall have the power, from time to time,to issue (i) notes to renew notes and (ii) bonds to pay notes, including theinterest on these notes and, whenever it deems refunding expedient, to refundany bonds by the issuance of new bonds, whether the bonds to be refunded haveor have not matured, and to issue bonds partly to refund bonds then outstandingand partly for any of its corporate purposes.
(3) Except as may otherwise be expressly provided byresolution of the corporation, every issue of its notes and bonds shall begeneral obligations of the corporation payable out of any revenues or moneys ofthe corporation, subject only to any agreements with the holders of particularnotes or bonds pledging any particular revenues.
(4) Notwithstanding any other provision contained in thissection, proceeds of bonds issued by the corporation may be used to finance anyhousing development that constitutes a qualified residential rental projectunder § 142 of the Internal Revenue Code of 1986, 26 U.S.C. § 142,and all regulations promulgated thereunder.
(b) The notes and bonds shall be authorized by resolution orresolutions of the corporation, shall bear the date or dates and shall matureat the time or times that the resolution or resolutions may provide, exceptthat no bond shall mature more than sixty-five (65) years from the date of itsissue. The bonds may be issued as serial bonds payable in annual installmentsor as term bonds or as a combination of bonds. The notes and bonds shall bearinterest at the rate or rates, be in the denominations, be in the form, eithercoupon or registered, carry the registration privileges, be executed in themanner, be payable in the medium of payment, at the place or places within orwithout the state and be subject to the terms or redemption that the resolutionor resolutions may provide. The notes and bonds of the corporation may be soldby the corporation, at public or private sale, at the price or prices that thecorporation shall determine.
§ 42-55-13 Bonds and notes. – (a) The corporation shall have the power and is hereby authorized to issue fromtime to time its negotiable notes and bonds, whether tax exempt or taxable inthe principal amount that the corporation shall determine to be necessary toprovide sufficient funds for achieving any of its corporate purposes includingthe payment of interest on the notes and bonds of the corporation,establishment of reserves to secure those notes and bonds including the reservefunds created pursuant to § 42-55-14, and all other expenditures of thecorporation incident to and necessary or convenient to carry out its corporatepurposes and powers.
(2) The corporation shall have the power, from time to time,to issue (i) notes to renew notes and (ii) bonds to pay notes, including theinterest on these notes and, whenever it deems refunding expedient, to refundany bonds by the issuance of new bonds, whether the bonds to be refunded haveor have not matured, and to issue bonds partly to refund bonds then outstandingand partly for any of its corporate purposes.
(3) Except as may otherwise be expressly provided byresolution of the corporation, every issue of its notes and bonds shall begeneral obligations of the corporation payable out of any revenues or moneys ofthe corporation, subject only to any agreements with the holders of particularnotes or bonds pledging any particular revenues.
(4) Notwithstanding any other provision contained in thissection, proceeds of bonds issued by the corporation may be used to finance anyhousing development that constitutes a qualified residential rental projectunder § 142 of the Internal Revenue Code of 1986, 26 U.S.C. § 142,and all regulations promulgated thereunder.
(b) The notes and bonds shall be authorized by resolution orresolutions of the corporation, shall bear the date or dates and shall matureat the time or times that the resolution or resolutions may provide, exceptthat no bond shall mature more than sixty-five (65) years from the date of itsissue. The bonds may be issued as serial bonds payable in annual installmentsor as term bonds or as a combination of bonds. The notes and bonds shall bearinterest at the rate or rates, be in the denominations, be in the form, eithercoupon or registered, carry the registration privileges, be executed in themanner, be payable in the medium of payment, at the place or places within orwithout the state and be subject to the terms or redemption that the resolutionor resolutions may provide. The notes and bonds of the corporation may be soldby the corporation, at public or private sale, at the price or prices that thecorporation shall determine.
