644.515. Bonds, how sold, deposits--proceeds--expenses of sale, how paid.
Bonds, how sold, deposits--proceeds--expenses of sale, how paid.
644.515. The board of fund commissioners shall offer suchbonds at public sale, and shall provide such method as it maydeem necessary for the advertisement of the sale of each issue ofthe bonds before the same are sold, and shall require a depositof such sum with each bid as will in its judgment be sufficientto guarantee the fulfillment thereof and generally shall conductthe sale or sales under such rules and regulations as shall to itseem advisable, provided the same are consistent with sections644.500 to 644.560. The board may reserve the right to rejectany and all bids. The proceeds thereof shall be paid into thestate treasury as herein provided. No bond issue issued undersections 644.500 to 644.560 shall be sold at less than its facevalue and accrued interest from date of issue to date ofdelivery. All expenses incurred by the board of fundcommissioners in issuing the bonds, or any part thereof, andattending the placing of the bonds on the market in a marketablecondition, shall be paid by the state treasurer out of theproceeds of the sale of the bonds upon warrants drawn by thecommissioner of administration to persons entitled thereto.
(L. 1972 S.B. 596 § 4)Effective 3-29-72
*Transferred 1986; formerly 204.515