The resolution of intention shall also state:
A. The purposes for which the proposed bonds are to be issued which may include any or all of the purposes stated in this Chapter;
B. The estimated cost of the accomplishment of such purposes and the amount of bonds to be issued therefor, which may include incidental expenses, including, without limitation, engineering, appraisal, legal fees, bond counsel fees, financing consultant fees, land and rights-of-way acquisition, reserve funds and expenses of financing the district and expenses of all proceedings for the authorization, issuance and sale of the bonds or related thereto;
C. That the bonds shall not be general obligations of the City, nor shall the credit of the City or the property or revenue of any public utility owned by the City be pledged for the payment thereof; and that the bonds shall be special obligations of and be issued on behalf of the improvement district; and whether ad valorem assessments for the payment of the interest on the bonds and the principal thereof shall be levied upon the taxable real property or upon land only in the improvement district;
D. The maximum interest rate which the bonds may bear, payable semiannually, except that interest for the first year may be payable at the end of that year or at such time prior to the end of that year as may be determined in the resolution providing for the issuance of the bonds.
(Ord. 3589, 7-06-76)