House Journal: Page 44: Tuesday, June 19, 2001
25 b. The time of maturity.
26 c. The rate of interest.
27 d. The denomination.
28 e. The form, either coupon or registered.
29 f. The conversion, registration, and exchange
30 privileges.
31 g. The rank or priority.
32 h. The manner of execution.
33 i. The medium of payment, including the place of
34 payment, either within or outside of the state.
35 j. The terms of redemption, either with or without
36 premium.
37 k. Such other terms and conditions as set forth by
38 the board in the resolution, trust indenture, or other
39 security agreement.
40 4. Public bonds or obligations authorized by the
41 board of directors shall not be subject to any
42 restriction under other law with respect to the
43 amount, maturity, interest rate, or other terms of
44 obligation of a public agency or private person.
45 5. Chapter 75 shall not apply to public bonds or
46 obligations authorized by the board of directors as
47 provided in this section.
48 Sec. 22. NEW SECTION. 476A.25 PUBLIC BONDS OR
49 OBLIGATIONS PAYABLE SOLELY FROM AGENCY REVENUES OR
50 FUNDS.
Page 13
1 1. The principal of and interest on any public
2 bonds or obligations issued by an electric power
3 agency shall be payable solely from the revenues or
4 funds pledged or available for their payment as
5 authorized in this subchapter.
6 2. Each public bond or obligation shall contain
7 all of the following terms:
8 a. That the principal of or interest on such
9 public bonds or obligations is payable solely from
10 revenues or funds of the electric power agency.
11 b. That neither the state or a political
12 subdivision of the state other than the electric power
13 agency, nor a public agency that is a member of the
14 electric power agency is obligated to pay the
15 principal or interest on such public bonds or
16 obligations.
17 c. That neither the full faith and credit nor the
18 taxing power of the state, of any political
19 subdivision of the state, or of any such public agency
20 is pledged to the payment of the principal of or the
21 interest on the public bonds or obligations.
22 Sec. 23. NEW SECTION. 476A.26 PUBLIC BONDS OR
23 OBLIGATIONS - TYPES - SOURCES FOR PAYMENT -
© 2001 Cornell College and
League of Women Voters of Iowa
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