§ 21-13-708 — Terms of bonds; negotiability

Bonds issued by school districts pursuant to the provisions of
this article shall bear interest payable annually or
semiannually, and evidenced by one (1) or two (2) sets of
coupons, if any, except that the first coupon may evidence
interest for a period not in excess of one (1) year, and the
bonds may be in one (1) or more series, may bear a date or
dates, may mature at a time or times not exceeding twenty-five
(25) years from their respective dates, may be in a denomination
or denominations, may be payable in a medium of payment, in a
place or places, within or without the state, including, but not
limited to the office of the county treasurer of a county in
which the district is wholly or partially located, may carry
registration privileges, may be subject to prior redemption in
advance of maturity in an order, or by lot, or otherwise, at a
time or times with or without premium, may bear privileges for
reissuance in the same or other denominations, may be so
reissued (without modification of maturities and interest
rates), and may be in a form, either coupon or registered, as
may be provided by resolution of the school district board of
trustees. Except as the board may otherwise provide, the bonds
and interest coupons attached thereto, if any, shall be fully
negotiable, within the meaning of and for all purposes of the
Uniform Commercial Code-Investment Securities. The holder of a
bond or coupon, by accepting the bond or coupon, is conclusively
deemed to have agreed that the bond or coupon (except as
otherwise provided) is and shall be fully negotiable within the
meaning and for all purposes of the Uniform Commercial
Code-Investment Securities.