11.3006 Evidences of indebtedness – Issuance – Signature.

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Bonds, notes or other evidences of indebtedness of the American Samoa Government shall be issued by the Finance Committee. They may be issued at one time or in a series from time to time. The maturity date of each series shall be determined by the Finance Committee. All evidences of indebtedness shall be signed in the name of the American Samoa Government by the Governor and the Lieutenant Governor. The facsimile signature of said officials is authorized and said evidences of indebtedness may be issued notwithstanding that any of the officials signing them or whose facsimile signature appear on such evidences of indebtedness has ceased to hold office at the time of issue or at the time of delivery to the purchaser. Except for indebtedness incurred for refunding purposes, authorized herein, no indebtedness may be incurred by the Finance Committee, or money borrowed for any reason, without the authorization by the Legislature of the amount and purpose of such indebtedness.

History: 2000, PL 26-24.