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When the Board shall have determined that bonds shall be issued to represent the cost and expenses of any proposed work or improvement or of the possession or acquisition of any property in any such proceeding, it shall so declare in its resolution of intention therefor, and shall specify pursuant to which plan herein provided such bonds shall be issued, the maximum term that any of the bonds may run, the interest rate which they shall bear, provided, however, that such interest rate may be stated to be not to exceed a rate stated therein.
(Added by Ord. 225-81, App. 5/5/81)