§ 21-03-19 — Bonds - Terms

Bonds issued under this chapter must be authorized by resolution, bear such date or dates,
be in such denomination or denominations, be in such form, be subject to redemption with or
without premium, and be subject to such other terms or conditions as in the judgment of the
municipality are in the public interest of the municipality, and must provide that the last
installment of principal falls due not more than twenty years from the date of the bonds. The

requirements of this section apply to each new issue of bonds, or if so determined by the
governing body, to the bonds of a new issue combined with all of the outstanding bonds of one
or more designated issues of bonds previously issued and similarly payable from taxes or other
sources of revenues, or both, as the case may be.