§ 16-5-104 — Interest; terms and conditions; negotiability

Refunding public securities shall bear interest, payable
semiannually or annually, and evidenced by one (1) or two (2)
sets of coupons, if any, except that the first coupon or coupons
appertaining to a refunding public security may evidence
interest for a period not in excess of one (1) year, and
refunding public securities may be in one (1) or more series,
may bear a date or dates, may mature in an amount or amounts,
serially or otherwise, at a time or times not exceeding thirty
(30) 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 issuer is located wholly or in part, may carry
registration privileges, may be subject to terms of prior
redemption in advance of maturity in 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 ordinance of the governing
body. Except as the governing body may otherwise provide, the
refunding public securities and attached interest coupons shall
be fully negotiable within the meaning of and for all purposes
of the Uniform Commercial Code-Investment Securities. Except as
otherwise provided each holder of a refunding public security,
by accepting the security, shall be conclusively deemed to have
agreed that the refunding public security is and shall be fully
negotiable within the meaning and for all purposes of the
Uniform Commercial Code-Investment Securities.