Iowa § 403A.13 Form and sale of bonds

Iowa Statutes

§ 403A.13 — Form and sale of bonds

Iowa § 403A.13

Title IXLOCAL GOVERNMENT

Ch. 403AMUNICIPAL HOUSING PROJECTS

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Bluebook

Iowa Code § 403A.13 (2026).

Text

1.Bonds of a municipality shall be authorized by its resolution and may be issued in one or more series and shall bear such date or dates, mature at such time or times, bear interest at such rate or rates, not exceeding that permitted by chapter 74A, be in such denomination or denominations, be in such form either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in suchmediumofpayment, atsuchplaceorplaces, andbesubjecttosuchtermsofredemption, with or without premium, as such resolution, its trust indenture or mortgage may provide.

2.The bonds may be sold at public or private sale at not less than par.

3.If the officers of the municipality whose signatures appear on any bonds or coupons shall cease

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1. Bonds of a municipality shall be authorized by its resolution and may be issued in one
or more series and shall bear such date or dates, mature at such time or times, bear interest
at such rate or rates, not exceeding that permitted by chapter 74A, be in such denomination
or denominations, be in such form either coupon or registered, carry such conversion or
registration privileges, have such rank or priority, be executed in such manner, be payable in
suchmediumofpayment, atsuchplaceorplaces, andbesubjecttosuchtermsofredemption,
with or without premium, as such resolution, its trust indenture or mortgage may provide.
2. The bonds may be sold at public or private sale at not less than par.
3. If the officers of the municipality whose signatures appear on any bonds or coupons
shall cease to be such officers before the delivery of the bonds, their signatures shall,
nevertheless, be valid and sufficient for all purposes, the same as if the officers had remained
in office until such delivery. Any provision of any law to the contrary notwithstanding, any
bonds issued pursuant to this chapter shall be fully negotiable.
4. In any suit, action or proceedings involving the validity or enforcement of any bond
issued pursuant to this chapter or the security therefor, any such bond reciting in substance
that it has been issued by the municipality pursuant to this chapter shall be conclusively
deemedtohavebeenissuedforsuchpurposeandthehousingprojectinrespecttowhichsuch
bond was issued shall be conclusively deemed to have been planned, located, and carried out
in accordance with the purposes and provisions of this chapter.