§ 11.8. Bonds, interest, sale.

Latest version.

The terms and maximum interest rate of general obligation or revenue bonds or other like securities shall be fixed by the authorizing ordinance and such securities shall be sold to the highest and best bidders for cash and in all cases to the best advantage of the City; provided that any refunding bond may be exchanged dollar for dollar for a bond refunded. All bonds may contain provisions for calling the same at designated interest periods prior to the final due date.

(Ord. No. 3712, § 2, 8-6-2001/11-6-2001)

                    
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