§ 14-185-128 — Bonds - Conversion

Bonds issued under this chapter may be sold with the privilege of conversion to an issue bearing a lower rate or rates of interest upon such terms that the authority issuing the bonds receive no less and pay no more than it would receive and pay if the bonds were not converted. The conversion shall be subject to the approval of the authority issuing the bonds.

Legislative History

Acts 1961, No. 439, § 9; 1970 (Ex. Sess.), No. 59, § 1; 1975 (Extended Sess., 1976), No. 1232, § 1; 1981, No. 425, § 34; A.S.A. 1947, § 21-1509; reen. Acts 1987, No. 1017, § 1.