§ 15-9-124 — Bonds; sale or exchange

Bonds may be sold at not less than par at public sales held
after notice published prior to the sale in a newspaper having a
general circulation in the area of operation and in any other
medium of publication as the municipality determines or may be
exchanged for other bonds on the basis of par. However, the
bonds may be sold to the federal government at a private sale at
not less than par. If less than all of the authorized principal
amount on the bonds is sold to the federal government, the
balance may be sold at private sale at not less than par at an
interest cost to the municipality or not to exceed the interest
cost to the municipality of the portion of the bonds sold to the
federal government.