Iowa Code 331.444 – Sale of bonds
Current as of: 2023 | Check for updates
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1. The board may sell general obligation bonds at public or private sale in the manner prescribed by chapter 75.
Terms Used In Iowa Code 331.444
- Board: means the board of supervisors of a county. See Iowa Code 331.101
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Rates: means rates, fees, tolls, rentals, and charges for the use of or service provided by a county enterprise or combined county enterprise. See Iowa Code 331.461
2. General obligation funding or refunding bonds issued for the purposes specified in section 331.441, subsection 2, paragraph “b”, subparagraph (7), may be exchanged for the evidences of the legal indebtedness being funded or refunded, or the funding or refunding bonds may be sold in the manner prescribed by chapter 75 and the proceeds applied to the payment of the indebtedness. Funding or refunding bonds may bear interest at the same rate as, or at a higher or lower rate or rates of interest than the indebtedness being funded or refunded.