Section 6-20-1229 - Issuance of second-lien commercial bonds - Definitions

(a) As used in this section: (1) 'Issue', 'issuance', or some variety thereof means the date upon which a second-lien bond is actually sold; and(2) 'Second-lien bond' means a commercial bond issued under the authority set forth in § 26-80-106.(b) All second-lien bonds issued by school districts shall have semiannual interest payments.Amended by Act 2017, No. 935,§ 2, eff. 8/1/2017.Acts 2001, No. 1220, § 18; 2005, No. 2121, § 15.