§ 16-5-404 — Authorizing instrument

(a) Anticipation notes issued pursuant to this act shall
be authorized by instrument of the issuer which shall:
(i) Describe the bonds in anticipation of which the
notes are to be issued;
(ii) Declare the results of the election authorizing
the issuance of the bonds wherein the qualified electors of the
issuer have approved their issuance in the manner required by
law;
(iii) Specify the principal amount of the
anticipation notes, the rate of interest and maturity date or
dates of the anticipation notes, which maturity date or dates
shall not exceed three (3) years from the date of issue of the
anticipation notes.