(a) Each bond or other evidence of indebtedness shall contain on its face a statement specifying the purpose for which it is issued.
(b) It shall be unlawful for any officer of the City to use the bond proceeds for any other purpose. Any officer who violates this provision shall be deemed guilty of a misdemeanor.
(c) All bonds and other evidences of indebtedness issued by the City shall be authorized by the City Council, signed by the Mayor, and countersigned by the City Clerk-Treasurer, under the Seal of the City. Interest coupons may be executed with the facsimile signatures of the Mayor and the City Clerk-Treasurer.
(d) A complete and detailed record of all bonds and other evidences of indebtedness issued by the City shall be kept by the City Clerk-Treasurer. Upon payment of any bond or other evidence of indebtedness, the same shall be marked "Cancelled".