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469.035 MANNER OF BOND ISSUANCE; SALE.
Bonds of an authority shall be authorized by its resolution. They may be issued in one or
more series and shall bear the date or dates, mature at the time or times, bear interest at the rate or
rates, be in the denomination or denominations, be in the form either coupon or registered, carry
the conversion or registration privileges, have the rank or priority, be executed in the manner,
be payable in the medium of payment at the place or places, and be subject to the terms of
redemption with or without premium, as the resolution, its trust indenture or mortgage provides.
The bonds may be sold in the manner and for the price that the authority determines to be in the
best interest of the authority. Notwithstanding any other law, bonds issued pursuant to sections
469.001 to 469.047 shall be fully negotiable. In any suit, action, or proceedings involving the
validity or enforceability of any bonds of an authority or the security for the bonds, any bond
reciting in substance that it has been issued by the authority to aid in financing a project shall be
conclusively deemed to have been issued for that purpose, and the project shall be conclusively
deemed to have been planned, located, and carried out in accordance with the purposes and
provisions of sections 469.001 to 469.047.
In cities of the first class, the governing body of the city must approve all notes executed
with the Minnesota Housing Finance Agency pursuant to this section if the interest rate on the
note exceeds seven percent.
History: 1987 c 291 s 35,243; 1987 c 344 s 7; 2006 c 259 art 9 s 7

Official Publication of the State of Minnesota
Revisor of Statutes