<?xml version='1.0' encoding='utf-8'?>
<section article="glg" article_name="Local Government" number="19-605" title_number="19" title_name="Public Debt" subtitle_number="6" subtitle_name="Creation of Public Debt -- Public Schools">
  <level label="a">
    <text>The notes shall be authorized by a resolution.</text>
  </level>
  <level label="b">
    <text>The authorizing resolution shall:</text>
    <level label="1">
      <text>cite the authority to issue the notes and the amount authorized; and</text>
    </level>
    <level label="2">
      <text>specify:</text>
      <level label="i">
        <text>the maturity;</text>
      </level>
      <level label="ii">
        <text>the interest rate or manner of determining the rate, which may include a variable rate;</text>
      </level>
      <level label="iii">
        <level label="1">
          <text>the price at which the notes will be sold, which may be at, above, or below the face value of the notes; or</text>
        </level>
        <level label="2">
          <text>the manner of determining the price at which the notes will be sold;</text>
        </level>
      </level>
      <level label="iv">
        <text>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;</text>
      </level>
      <level label="v">
        <text>the terms or conditions, if any, under which notes may or shall be redeemed prior to their stated maturity; and</text>
      </level>
      <level label="vi">
        <text>other terms on the notes.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The authorizing resolution may provide for:</text>
    <level label="1">
      <text>the issuance of the notes in series, as money is required; and</text>
    </level>
    <level label="2">
      <text>the renewal of the notes at maturity, with or without resale.</text>
    </level>
  </level>
</section>
