20-9-429 . Trustees' resolution to issue school district bonds pursuant to public sale. If the trustees conduct a public sale, at any time after the date of the election certificate, the trustees shall adopt a resolution calling for the sale of bonds of the school district. The resolution must specify: (1) the number of series or installments in which the bonds are to be issued; (2) the amount of bonds to be issued; (3) the minimum purchase price of the bonds; (4) the purpose or purposes of the issue; (5) the date that the issue will bear; (6) the period of time through which the issue will be paid; (7) the manner of execution of the bonds; (8) whether bids will be accepted for either serial or amortization bonds and, if so, the denomination of serial or amortization bonds; (9) the date and time that the sale of the bonds must be conducted; and (10) the minimum price fixed by the board of trustees for the bonds, which may not be less than 97% of the principal amount of the bonds if the board determines that the sale is in the best interests of the district.
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