<?xml version='1.0' encoding='utf-8'?>
<section article="gsf" article_name="State Finance and Procurement" number="8-120" title_number="8" title_name="Debt" subtitle_number="1" subtitle_name="General Obligation Debt">
  <text>By resolution, the Board may provide that the State bonds authorized by an enabling act:</text>
  <level label="1">
    <text>be in 1 or more series;</text>
  </level>
  <level label="2">
    <text>bear a certain date of issue;</text>
  </level>
  <level label="3">
    <text>be executed in a certain manner;</text>
  </level>
  <level label="4">
    <text>be sold in a certain manner at public or private, negotiated sale;</text>
  </level>
  <level label="5">
    <text>be in certain denominations, not necessarily in equal paramounts;</text>
  </level>
  <level label="6">
    <text>mature in certain amounts at certain times, not necessarily in consecutive annual installments, but not later than 15 years after their respective dates of issue;</text>
  </level>
  <level label="7">
    <text>bear interest at certain rates or at rates to be determined in the manner stated in the resolution; and</text>
  </level>
  <level label="8">
    <text>be paid, as to principal and interest, at certain places.</text>
  </level>
</section>
