- Introduced -

SB 1271 - This act prescribes that the sale of bonds, notes or other evidence of indebtedness issued by any housing authority shall be sold at public sale, after giving reasonable notice of such sale, at the best price obtainable, and may bear interest at a rate not exceeding fourteen percent per annum. Current law states that said bond sales may be sold at any sale.

The provision that allows the issuing jurisdiction to adopt a resolution setting forth clear justification why the sale should be a private sale as well as the statement that private activity bonds may be sold either at public or private sale has been removed.

DONALD THALHUBER