1. (a) This section applies only to the following governmental entities:

   1. (1) a county;
   2. (2) a municipality;
   3. (3) a public corporation of the State;
   4. (4) a sanitary commission or district; and
   5. (5) a unit, public corporation, or other instrumentality of a county or a municipality.
2. (b) Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections.

3. (c) Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity may:

   1. (1) establish procedures for the registration and transfer of the bonds;
   2. (2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;

   3. (3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:

      1. (i) custodian banks and their nominees; or
      2. (ii) financial intermediaries and their nominees; and
   4. (4) exercise any other power that relates to issuance of bonds in registered form.

Added by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013.