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The bonds shall be of the form prescribed by resolution of the Board, shall be dated as the Board shall determine, and shall be numbered consecutively, be payable to bearer and be negotiable and serial in nature. They shall be payable on July 1st of each year in such amount as the Board shall determine. The first maturity shall be not earlier than 10 months after their date. The last maturity of any bond shall be not later than 40 years after July 1st next succeeding its date. The bonds, or any series, division or part of an issue, may be issued in registered form and may thereafter be deregistered and reregistered.
(Added by Ord. 225-81, App. 5/5/81)