Unless otherwise provided in a Note Resolution, the Notes will have the following terms:
(a) Interest. They will bear interest from their date, payable at maturity. Interest will be calculated on the basis of a 360-day year consisting of twelve, 30-day months.
(b) Redemption before Stated Maturity. The Notes will not be subject to redemption before maturity.
(c) Form, Numbering and Denomination. The Notes must be issued in fully registered form. They must be issued in Book-Entry Form. They must be issued in Authorized Denominations and in the numbers and amounts as requested by the Original Purchaser and approved by the Authorized Officer. They must be numbered as determined by the Authorized Officer in a manner to distinguish each Note from any other Note. They must express on their faces the purpose for which they are issued and that they are issued in accordance with the Note Resolution and this General Program Ordinance.
(Ord. 2009-139. Adopted 4-13-09.)