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Bonds shall be issued as serial bonds, term bonds, installment bonds or pass-through certificates or any combination thereof. The Mayor or City Manager 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 40 years, bear interest at such fixed or variable rate or rates approved by the participating party whose facility is being financed but not to exceed the maximum rate permitted by law, if any, be payable at such time or times, be in such denomina-tions, 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.
('86 Code, § 8.03.030) (Ord. 3863, passed - - )