Section 62.00. Interim bonds  


Latest version.
  • The agency selling and issuing the bonds of a
      municipality,  school district or district corporation may issue interim
      bonds pending the  printing  or  engraving  and  delivery  of  bonds  in
      definitive  form.  Such interim bonds shall be of substantially the same
      form and tenor as the definitive bonds,  except  that  they  shall  also
      provide  that  they  are exchangeable for the definitive bonds when such
      bonds are ready for delivery, and if such definitive  bonds  are  coupon
      bonds,  the interim bonds need not have coupons attached but may provide
      for the payment of interest upon their presentation for notation of such
      payment thereon. Such interim bonds may be issued in such  denominations
      as the purchaser may request, which may be one denomination equal to the
      principal amount of the bond issue.