7-7-2212 . Citizen bonds authorized. (1) A county authorized to sell general obligation bonds under this chapter may issue and sell a portion of the bonds in denominations of less than $5,000 by: (a) competitive public sale, directly to members of the public, at preestablished interest rates; or (b) private sale pursuant to 17-5-107 . (2) Bonds issued under 7-7-2212 through 7-7-2215 may be known as "citizen bonds". (3) Citizen bonds may be issued for any purpose for which a county may issue general obligation bonds. (4) An officer, employee, contracted financial consultant, or contracted adviser employed or retained by a county selling citizen bonds may not purchase those bonds.
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