SB 1271 Bonds, notes or other evidence of indebtedness issued by any housing authority shall be sold at public sale
Sponsor:Klindt
LR Number:4512S.03I Fiscal Note:4512-03
Committee:Financial and Governmental Organization
Last Action:03/12/02 - Second Read and Referred S Financial & Governmental Journal page:S517
Organizations, Vet. Affairs & Elections Committee
Title:
Effective Date:August 28, 2002
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Current Bill Summary

SB 1271 - This act prescribes that the sale of bonds, notes or other evidence of indebtedness issued by any housing authority shall be sold at public sale, after giving reasonable notice of such sale, at the best price obtainable, and may bear interest at a rate not exceeding fourteen percent per annum. Current law states that said bond sales may be sold at any sale.

The provision that allows the issuing jurisdiction to adopt a resolution setting forth clear justification why the sale should be a private sale as well as the statement that private activity bonds may be sold either at public or private sale has been removed.
DONALD THALHUBER