Every bond issued by the city shall contain on its face a statement specifying the object for which the same is issued. It shall be unlawful for any officer of the city to sign or issue any such bond unless such statement is set forth on the face of the same, or to use such bonds or the proceeds from the sale thereof for any object other than that mentioned on the face of such bond. Any officer who shall violate any of the provisions of this section shall be deemed guilty of misconduct in office.
Bonds and all other evidences of indebtedness issued by the city shall be signed by the Mayor and Clerk under the seal of the city. The coupons evidencing the interest upon said bonds may be executed with the facsimile signatures of the Mayor and the Clerk. A complete and detailed record of all bonds shall be kept by the Clerk.
Upon the payment of any bond or other evidence of indebtedness, the same shall be canceled.