§ 23-11-19 — Bonds - Issued pursuant to resolution - General provisions

North Dakota § 23-11-19

• Jurisdiction: North Dakota
• Title 23: Health and Safety
• Ch. 23-11: Housing Authorities Law

Text

Bonds of an authority must be issued pursuant to a resolution of the commissioners thereof.
The resolution must specify:
1. Whether the bonds must be issued in one or more series.
2. The date or dates which the bonds must bear.
3. The time or times at which the bonds must mature.
4. The interest rate or rates.
5. The denomination or denominations in which the bonds must be issued.
6. The form, either coupon or registered, in which the bonds must be issued.
7. The conversion or registration privileges, if any, which the bonds must carry.
8. The rank or priority which must exist between various issues of bonds and various
kinds of bonds issued.
9. The manner in which the bonds must be executed.
10. The medium in which the bonds must be payable.
11. The place or places at which the bonds must be payable.
12. The terms of redemption, and whether with or without premium, to which the bonds
are subject.
The conditions specified in the resolution may be printed in any trust indenture or mortgage
given by the authority to secure any bonds issued by it.