(1) Pending the preparation of definitive bonds of any issue, the Mayor, the City Controller, and the City Solicitor, or any two of them, are authorized to cause to be prepared, executed and delivered one or more printed temporary bonds of any denomination or denominations similar to the form and tenor of definitive bonds of the same issue, but with such omissions, modifications, or additions as may be desirable or appropriate.
(2) Temporary bonds issued in accordance with the provisions of this Section shall be executed in the same manner as the definitive bonds, or as may now or hereafter be authorized under the laws of the Commonwealth.
(a) Such bonds shall be signed by the City's Fiscal Agent or by any two of its duly authorized officers.
(3) Such temporary bonds shall be exchangeable for other temporary bonds, and for definitive bonds, when ready, of the same issue and series, of like aggregate principal amounts, whether of the same or different denominations, and when surrendered for exchange, shall be accompanied by all unmatured coupons appertaining thereto, and if registered shall be accompanied by written instruments of transfer in form approved by the City's Fiscal Agent, duly executed by the registered owner or by his attorney, duly authorized in writing.
(4) All temporary bonds surrendered in exchange for other temporary bonds or for definitive bonds shall be cancelled.