Iowa Code § 390.13
Public bonds or obligations authorized by resolution of board of directors — terms
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2017
As of January 1, 2012
1. The board of directors of an electric power agency, by resolution, may authorize the issuance of public bonds or obligations of the electric power agency.
1. The board of directors of an electric power agency, by resolution, may authorize the issuance of public bonds or obligations of the electric power agency.
2. The public bonds or obligations may be issued in one or more series under the resolution or under a trust indenture or other security agreement.
2. The public bonds or obligations may be issued in one or more series under the resolution or under a trust indenture or other security agreement.
3. The resolution, trust indenture, or other security agreement, with respect to such public bonds or obligations, shall provide for all of the following:
3. The resolution, trust indenture, or other security agreement, with respect to such public bonds or obligations, shall provide for all of the following:
a. The date on the public bonds or obligations.
a. The date on the public bonds or obligations.
b. The time of maturity.
b. The time of maturity.
c. The rate of interest.
c. The rate of interest.
d. The denomination.
d. The denomination.
e. The form, either coupon or registered.
e. The form, either coupon or registered.
f. The conversion, registration, and exchange privileges.
f. The conversion, registration, and exchange privileges.
g. The rank or priority.
g. The rank or priority.
h. The manner of execution.
h. The manner of execution.
i. The medium of payment, including the place of payment, either within or outside of the state.
i. The medium of payment, including the place of payment, either within or outside of the state.
j. The terms of redemption, either with or without premium.
j. The terms of redemption, either with or without premium.
k. Such other terms and conditions as set forth by the board in the resolution, trust indenture, or other security agreement.
k. Such other terms and conditions as set forth by the board in the resolution, trust indenture, or other security agreement.
4. Public bonds or obligations authorized by the board of directors shall not be subject to any restriction under other law with respect to the amount, maturity, interest rate, or other terms of obligation of a public agency or private person.
4. Public bonds or obligations authorized by the board of directors shall not be subject to any restriction under other law with respect to the amount, maturity, interest rate, or other terms of obligation of a public agency or private person.
5. Chapter 75 shall not apply to public bonds or obligations authorized by the board of directors as provided in this section.
5. Chapter 75 shall not apply to public bonds or obligations authorized by the board of directors as provided in this section.
CS2001, §476A.24
C2011, §390.13
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.