(a) Except as provided in (b) of this section, the corporation may issue bonds in its discretion for any of its corporate purposes and may issue refunding bonds for the purpose of paying or retiring bonds previously issued by it.
(b) The corporation may not, without prior legislative approval, issue bonds, other than refunding bonds,
(1) in a total amount in excess of $1,000,000 each calendar year; or
(2) if the annual debt service on all outstanding bonds issued and proposed to be issued exceeds $1,000,000 in a fiscal year.
Section: Previous 26.27.080 26.27.090 26.27.100 26.27.110 26.27.120 26.27.130 26.27.140 26.27.150 26.27.160 26.27.170 26.27.180 26.27.190 26.27.200 26.27.210 26.27.220 NextLast modified: November 15, 2016