If the Council determines to issue refunding Debt pursuant to this division it shall adopt a resolution providing for their issuance. The resolution shall:
A. Describe the Debt being refunded and state the date on which it is anticipated that the refunding will occur;
B. Fix the date of the refunding Debt;
C. Designate the denomination or denominations of the refunding Debt;
D. Fix the minimum rate or rates of interest to be paid on the refunding Debt;
E. Fix the maturity dates of the refunding Debt, which may exceed the latest maturity date of the Debt being refunded, provided that the latest maturity date of the refunding Debt shall not be in excess of fifty years from the date of issuance of the Debt to be refunded;
F. Designate the place or places of payment of principal and interest on the refunding Debt and on the Debt to be refunded;
G. Describe the form of the refunding Debt.
SECTION HISTORY
Added by Ord. No. 177,051, Eff. 11-20-05.