Bonds shall be issued as serial bonds, term bonds, installment bonds or pass-through
certificates or any combination thereof. The City Manager or his/her designee shall
determine the terms and timing of the issuance of particular bonds in accord with
the resolution of the Council approving the particular facility to be financed thereby.
Bonds shall bear such date or dates, mature at such time or times not to exceed thirty-five
(35) years, bear interest at such fixed or variable rate or rates approved by the
participating party those facility is being financed but not to exceed the maximum
rate permitted by law, 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 to be entered into by the
City pursuant to such resolution, shall provide. Bonds shall be sold at either public
or private sale and for such prices as the City shall determine.
(Added by Ord. 2551-C.S., § 1, effective 11-19-87)
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