All bonds issued under this subchapter shall be in the denomination of $100 or some multiple thereof, shall bear interest not exceeding 6% per annum, payable annually or semi-annually, and both principal and interest shall be payable at the place or places as the governing authority may 87 determine. The form of the bonds shall be fixed by ordinance of the City Commission, and the bonds shall be signed by the Mayor and the City Manager, and countersigned by the City Clerk under the seal of the city. The coupons, if any, shall be executed by the facsimile signatures of the same officers. The delivery, at any subsequent date, of any bond and coupon so executed shall be valid, although before the date of delivery the persons signing the bonds or coupons shall cease to hold office.
(Special Acts, Ch. 57-1754, § 162; Ch. 63-1826, § 15) ('58 Code, § 45.98)