Notwithstanding any limitations contained in the acts referred to in Section 3.80.010 or the General Statutes of the state of California, the council shall have the authority to sell improvement bonds to represent special assessments at a price to be determined by the council at or before the sale of said bonds, whether at par value, at a discount, or at a premium, and bearing interest at a rate or rates to be determined by the council, whether or not said rates exceed the limitations otherwise provided by state law. The sale of said bonds may be by competitive bidding or through negotiation as may be determined by the council.
(Ord. 1586 §11 (part))