3.88.040   Sale of bonds.
   The bonds may be sold by the city at public or private sale at such price or prices and at such rate or rates of interest not to exceed twelve percent (12%) per annum as the city council may deem advisable at the time of sale thereof. The bonds shall be sold pursuant to resolution of the city council adopted at any time following the effective date of this chapter.
(Ord. 1664 §1 (part))