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The obligations shall be dated, shall bear interest at such rate or rates, shall mature at such times as may be determined by resolution of the City Commission, and may be made redeemable before maturity, at the option of the city, at such price or prices and under such terms and conditions, all as may be fixed by the City Commission. Said obligations shall mature not later than 40 years after their issuance. The City Commission shall determine by resolution the form of the obligations, the manner of executing such obligations, and shall fix the denominations of such obligations, the place or places of payment of the principal and interest, which may be at any bank or trust company within or outside of the State of Florida, and such other terms and provisions of the obligations as it deems appropriate. The obligations may be sold at public or private sale for price or prices as the City Commission shall determine by resolutions. The obligations may be delivered to any contractor to pay for construction of the local improvements or may be sold in such manner and for such price as the City Commission may determine by resolution to be for the best interests of the city.
(Ord. 1166, passed 6-2-05)