Iowa Code 384.27 – Sale of bonds
Current as of: 2024 | Check for updates
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1. A city may sell general obligation bonds at public or private sale in the manner prescribed by chapter 75.
Terms Used In Iowa Code 384.27
- and: includes the disjunctive "or" and the use of the disjunctive "or" includes the conjunctive "and" unless the context clearly indicates otherwise. See Iowa Code 384.23
- 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 city utility, combined utility system, city enterprise, or combined city enterprise. See Iowa Code 384.80
2. General obligation funding or refunding bonds issued for the purposes specified in section 384.24, subsection 3, paragraph “f”, may be exchanged for the evidences of the legal indebtedness being funded or refunded, or such funding or refunding bonds may be sold in the manner prescribed by chapter 75 and the proceeds applied to the payment of such 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.