11-9-35. Maximum amount of bonds--Maturity--Redemption--Bearer or registered--Denominations.
Tax increment bonds may not be issued in an amount exceeding the aggregate project costs. The bonds may not mature later than twenty years from the date the district was created. The bonds may contain a provision authorizing the redemption of the bonds, in whole or in part, at stipulated prices, at the option of the municipality, on any interest payment date and shall provide the method of selecting the bonds to be redeemed. The principal and interest on the bonds may be payable at any time and at any place. The bonds may be payable to the bearer or may be registered as to the principal or principal and interest. The bonds may be in any denominations.
Source: SL 1978, ch 91, § 23; SL 2011, ch 73, § 12; SL 2018, ch 70, § 36.
Get Chapter 11-9