§ 47.0303 — Type, Form and Sale of Bonds

§47.0303 Type, Form and Sale of Bonds

Bonds may be issued as serial bonds, term bonds, installment bonds or pass–through certificates or any combination thereof. Bonds shall be authorized by resolution of the Council and shall bear such date or dates, mature at such time or times, bear interest at such fixed or variable rate or rates, be payable at such time or times, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America at such place or places, be subject to such terms of redemption and have such other terms and conditions as such resolution or any indenture authorized by such resolution to be entered into by the City may provide. Bonds may be sold at either a public or private sale and for such prices as the City shall determine. Pending preparation of definitive bonds, the City may issue temporary bonds, which shall be exchanged for such definitive bonds when prepared.

(“Type, Form and Sale of Bonds” added 11–13–1979 by O–15074 N.S.)