§ 40-27-08 — Contents of refunding warrants and bonds - Redemption - Negotiability - Eligibility as investments

Eligibility as investments.
The refunding warrants or bonds shall bear such date, be in such denominations, and
mature at such time or times, not exceeding thirty years from date of issue, as the governing
body shall determine. Such warrants or bonds may be made subject to redemption at any
specified time or times if it is so provided in the initial resolution. Refunding warrants or bonds
issued pursuant to this chapter may be designated as "refunding improvement warrants" or
"refunding improvement bonds" as the governing body shall determine; provided, that nothing
herein shall be deemed to subject such warrants or bonds to chapter 21-03 with reference to
general obligation bonds of the municipality. All such warrants or bonds shall be negotiable
within the meaning of and for all the purposes specified in title 41 and shall be valid investments
for fiduciary, corporate, and public funds to the same extent as improvement warrants or bonds.