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Chapter 67

Effective - 28 Aug 1983 bottom

  67.981.  Notes authorized — sales — interest rate — to mature when. — Pending the issuance of bonds, the commission may issue notes payable from the proceeds of such bonds or from such other sources as the commission may specify as in the case of bonds.  Such notes shall mature in not more than five years and shall be sold at public or private sale as the commission may specify at not less than ninety-five percent of the principal amount thereof and at an interest rate not in excess of the maximum rate, if any, applicable to general and business corporations.  The other details with respect to such notes shall be determined by the commission as in the case of bonds.


(L. 1983 H.B. 788 § 6)

---- end of effective   28 Aug 1983 ----

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