§ 16-5-405 — Manner of issuance; form, terms and conditions

Anticipation notes shall be issued and sold in such manner and
at such price as the governing body determines by the instrument
authorizing their issuance. Anticipation notes shall be in
bearer form, except that the governing body may provide for the
registration of the anticipation notes in the name of the owner
either as to principal alone, or as to both principal and
interest, and on such other terms and conditions as the
governing body determines in the authorizing instrument.
Interest on anticipation notes, not to exceed the rate
authorized by the electors, may be payable semiannually,
annually or at maturity. Anticipation notes may be made
redeemable prior to maturity at the option of the governing body
in the manner and upon the terms fixed by the instrument
authorizing their issuance. Anticipation notes shall be executed
and shall be in such form and have such details and terms as
provided in the authorizing instrument.