(a) Notwithstanding any other ordinance, the Board of Supervisors by ordinance may take any and all actions necessary to authorize, issue, and repay the bonds, including, but not limited to, modifying schedules of rents, loan payments, rates, and charges to provide for the payment and retirement of such bonds.
(b) Bonds may be issued as serial bonds, term bonds, finance leases, installment payment obligations, loans, notes, certificates of participation, or pass-through certificates, or any combination thereof. Bonds shall be authorized by ordinance by the Board of Supervisors and shall bear such date or dates; mature at such time or times; bear interest at such fixed or variable rate or rates; be payable at such time or times; be in such denominations; be in such form, either coupon or registered; carry such registration privileges; be executed in such manner; be payable in lawful money of the United States of America at such place or places; and be subject to such terms of redemption and have such other terms and conditions as such ordinance, or any indenture authorized by such ordinance to be entered into by the City, may provide. Bonds may be sold at either public or private sale and for such prices as the City shall determine. Interest on bonds may be excluded or included from gross income of the owners thereof for federal income tax purposes.
(Added by Ord. 211-24, File No. 240726, App. 8/1/2024, Eff. 9/1/2024)