Section 644.516

Title XL ADDITIONAL EXECUTIVE DEPARTMENTS

Chapter 644

Effective - 18 Jun 1991, see footnote   

  644.516.  Additional bonds, how sold, deposits — proceeds — expenses of sale, how paid. — The board of fund commissioners shall offer such bonds at public sale, and shall provide such method as it may deem necessary for the advertisement of the sale of each issue of the bonds before the same are sold, and shall require a deposit of such sum with each bid as will in its judgment be sufficient to guarantee the fulfillment thereof and generally shall conduct the sale or sales under such rules and regulations as shall to it seem advisable, provided the same are consistent with sections 644.501, 644.511, 644.516, 644.521, 644.526, 644.531, 644.541, 644.546, 644.551, 644.556 and 644.561.  The board may reserve the right to reject any and all bids.  The proceeds thereof shall be paid into the state treasury as herein provided.  No bond issue issued under sections 644.501, 644.511, 644.516, 644.521, 644.526, 644.531, 644.541, 644.546, 644.551, 644.556 and 644.561 shall be sold at less than its face value and accrued interest from date of issue to date of delivery.  All expenses incurred by the board of fund commissioners in issuing the bonds, or any part thereof, and attending the placing of the bonds on the market in a marketable condition shall be paid by the state treasurer out of the proceeds of the sale of the bonds upon warrants drawn by the commissioner of administration to persons entitled thereto.

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(L. 1973 S.B. 286 § 4, A.L. 1991 S.B. 185)

Effective 6-18-91