(a) The board of improvement of the consolidated district is authorized to pay any notes or bonds given by either of the separate districts before the notes or bonds become due including accrued interest on the notes or bonds up until the date of payment.
(b) In order to facilitate the retirement of the notes or bonds, the board at its option, may pay, in addition to the face value and accrued interest on any bond or note, a premium of not exceeding one-half of one percent (1/2 of 1%) for each full year that the payment of the note or bond is anticipated.
Section: Previous 14-218-114 14-218-115 14-218-116 14-218-117 14-218-118 14-218-119 14-218-120 14-218-121 14-218-122 14-218-123 14-218-124 14-218-125 14-218-126 14-218-127 14-218-128 NextLast modified: November 15, 2016