§ 117-21. Issuance of bonds. - North Carolina Statutes

§ 117‑21.  Issuanceof bonds.

A corporation formed hereunder shall have power and is herebyauthorized, from time to time, to issue its bonds in anticipation of itsrevenue for any corporate purpose. Said bonds may be authorized by resolutionor resolutions of the board, and may bear such date or dates, mature at suchtime or times, not exceeding 40 years from their respective dates, bearinterest at such rate or rates, be in such denominations, be in such form,either coupon or registered, carry such registration privileges, be executed insuch manner, be payable in such medium of payment, at such place or places, andbe subject to such terms of redemption, not exceeding par and accrued interest,as such resolution or resolutions may provide. Such bonds may be sold in suchmanner and upon such terms as the board may determine at not less than par andaccrued interest. Any provision of law to the contrary notwithstanding, anybonds and the interest coupons appertaining thereto, if any, issued pursuant tothis Article shall possess all of the qualities of negotiable instruments. (1935, c. 291, s. 16; 1969, c. 670, s. 2.)