The acquisition, construction, or reconstruction of any housing development may be authorized under §§ 36.25 through 36.37 and bonds may be authorized to provide funds for that purpose or for the refunding of bonds previously issued, by resolution of the city council which may be adopted at the same meeting at which it is introduced and shall take effect immediately on adoption. The bonds shall bear interest at such rate or rates, be payable at such times, be in one or more series, and may bear date or dates, mature at times not exceeding 50 years from their respective dates, be payable in any medium of payment at any place, carry registration privileges, be subject to terms of redemption at such premiums, be executed in any manner, contain any terms, covenants, and conditions, and be in either coupon or registered, as the resolution may provide. The bonds may be sold at public or private sale in the manner, on the terms, and at the price as may be determined by the city council. Pending the preparation of the definitive bonds, interim receipts or certificates in a form and with provisions as the city council may determine may be issued to the purchaser or purchasers of bonds.
(Ord. 6491, passed 8-9-77)