1.The board may issue revenue bonds pursuant to a resolution adopted at a regular or
special meeting by a majority of the total number of members of the board.
2.Before the board institutes proceedings for the issuance of revenue bonds, it shall fix a
time and place of meeting at which it proposes to take action, and give notice by publication
in the manner directed in section 331.305. The notice must include a statement of the time
and place of the meeting, the maximum amount of the proposed revenue bonds, the purpose
for which the revenue bonds will be issued, and the county enterprise or combined county
enterprise whose net revenues will be used to pay the revenue bonds and interest thereon. At
the meeting the board shall receive oral or written objections from any resident or propert
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1. The board may issue revenue bonds pursuant to a resolution adopted at a regular or
special meeting by a majority of the total number of members of the board.
2. Before the board institutes proceedings for the issuance of revenue bonds, it shall fix a
time and place of meeting at which it proposes to take action, and give notice by publication
in the manner directed in section 331.305. The notice must include a statement of the time
and place of the meeting, the maximum amount of the proposed revenue bonds, the purpose
for which the revenue bonds will be issued, and the county enterprise or combined county
enterprise whose net revenues will be used to pay the revenue bonds and interest thereon. At
the meeting the board shall receive oral or written objections from any resident or property
owner of the county. After all objections have been received and considered, the board, at
the meeting or a date to which it is adjourned, may take additional action for the issuance
of the bonds or abandon the proposal to issue bonds. Any resident or property owner of the
county may appeal a decision of the board to take additional action to the district court of the
county within fifteen days after the additional action is taken, but the additional action of the
board is final and conclusive unless the court finds that the board exceeded its authority. The
provisions of this subsection with respect to notice, hearing, and appeal are in lieu of those
contained in any other law.
3. Revenue bonds may bear dates, bear interest at rates not exceeding those permitted by
chapter74A,matureinoneormoreinstallments,beineithercouponorregisteredform,carry
registration and conversion privileges, be payable as to principal and interest at times and
places, be subject to terms of redemption prior to maturity with or without premium, and be
in one or more denominations, all as provided by the resolution of the board authorizing their
issuance. The resolution may also prescribe additional provisions, terms, conditions, and
covenants which the board deems advisable, consistent with this part, including provisions
for creating and maintaining reserve funds, the issuance of additional revenue bonds ranking
on a parity with such revenue bonds and additional revenue bonds junior and subordinate to
such revenue bonds, and that such revenue bonds shall rank on a parity with or be junior
and subordinate to any revenue bonds which may be then outstanding. Revenue bonds are a
contract between the county and holders and the resolution is a part of the contract.
4. Revenue bonds shall be executed by the chairperson of the board and the auditor.
If coupons are attached to the revenue bonds, they shall be executed with the original or
facsimile signature of the auditor. A revenue bond is valid and binding for all purposes if
it bears the signatures of the officers in office on the date of the execution of the bonds
notwithstanding that any or all persons whose signatures appear have ceased to be such
officers prior to the delivery of the bonds. The issuance of revenue bonds shall be recorded
in the office of the treasurer, and a certificate of the recording by the treasurer shall be
printed on the back of each revenue bond.
5. Revenue bonds, pledge orders and warrants issued under this part are negotiable
instruments.
6. The board may issue pledge orders pursuant to a resolution adopted by a majority of
the total number of supervisors, at a regular or special meeting, ordering their issuance and
delivery in payment for all or part of the cost of a project. Pledge orders may bear interest at
rates not exceeding those permitted by chapter 74A.
7. The physical properties of a county enterprise or combined county enterprise shall not
be pledged or mortgaged to secure the payment of revenue bonds or pledge orders or the
interest thereon.