2005 Idaho Code - 67-4921 — ISSUANCE OF NEGOTIABLE COUPON BONDS -- FORM AND TERMS

                                  TITLE  67
                      STATE GOVERNMENT AND STATE AFFAIRS
                                  CHAPTER 49
                             AUDITORIUM DISTRICTS
    67-4921.  ISSUANCE OF NEGOTIABLE COUPON BONDS -- FORM AND TERMS. To carry
out the purposes of this act, and to pay the necessary and ordinary expenses
of a district authorized to levy and collect ad valorem taxes, the board is
hereby authorized to issue negotiable coupon bonds of the district. Bonds
shall bear interest at a rate not exceeding that provided by law payable
semi-annually, and shall be due and payable serially, either annually or
semi-annually, commencing not later than three (3) years and extending not
more than thirty (30) years from date. The form and terms of said bonds,
including provisions for their payment and redemption, shall be determined by
the board. If the board so determines, such bonds may be redeemable prior to
maturity upon payment of a premium, not exceeding five per cent (5%) of the
principal thereof. Said bonds shall be executed in the name of and on behalf
of the district and signed by the chairman of the board with the seal of the
district affixed thereto and attested by the secretary of the board. Said
bonds shall be in such denominations as the board shall determine and the
bonds and coupons thereto attached shall be payable to bearer. Interest
coupons shall bear the original or facsimile signature of the chairman of the
board.