20-9-429. Trustees' resolution to issue school district bonds. Anytime after the date of the election certificate, the trustees shall adopt a resolution calling for the sale of bonds of the school district. The resolution must specify:
     (1) the number of series or installments in which the bonds are to be issued;
     (2) the amount of bonds to be issued;
     (3) the minimum purchase price of the bonds;
     (4) the purpose or purposes of the issue;
     (5) the date that the issue will bear;
     (6) the period of time through which the issue will be paid;
     (7) the manner of execution of the bonds;
     (8) whether bids will be accepted for either serial or amortization bonds and, if so, the denomination of serial or amortization bonds;
     (9) the date and time that the sale of the bonds must be conducted; and
     (10) the minimum price fixed by the board of trustees for the bonds, which may not be less than 97% of the principal amount of the bonds if the board determines that the sale is in the best interests of the district.

     History: En. 75-7118 by Sec. 319, Ch. 5, L. 1971; R.C.M. 1947, 75-7118; amd. Sec. 43, Ch. 423, L. 1995.