1. (a) The notes shall be authorized by a resolution.

2. (b) The authorizing resolution shall:

   1. (1) cite the authority to issue the notes and the amount authorized; and

   2. (2) specify:

      1. (i) the maturity;
      2. (ii) the interest rate or manner of determining the rate, which may include a variable rate;

      3. (iii) 1. the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or

         1. 2. the manner of determining the price at which the notes will be sold;
      4. (iv) the manner of the sale of the notes, which may be by private negotiation by the county with a prospective purchaser, if determined by the county to be in the county's best interest;
      5. (v) the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and
      6. (vi) other terms on the notes.

3. (c) The authorizing resolution may provide for:

   1. (1) the issuance of the notes in series, as money is required; and
   2. (2) the renewal of the notes at maturity, with or without resale.

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