The issuance of bonds shall be authorized by the Council by a resolution of issuance. The resolution of issuance may contain such terms and conditions of the bonds as the Council deems advisable and in accordance with the provisions of this chapter, including, but not limited to:
(A) The type, denominations, terms and maturities of the bonds as the city may deem appropriate;
(B) For the bonds to be in either registered or bearer form either as to principal or interest or both and carry such conversion and reconversion privileges as the city may deem appropriate;
(C) For the bonds to be payable as serial or term bonds in such installments as may be set forth therein and at such time or times not exceeding 40 years from the date thereof;
(D) For the bonds to be payable in such mediums and at such place or places within or without the state as the city may deem appropriate;
(E) For the bonds to bear interest at such rate or rates (or variable rates, as the case may be) per annum not to exceed those specified in the proceedings, payable at such time or times and at such place or places within or without the state and evidenced in such manner as the city may deem appropriate;
(F) For the bonds to be exchangeable for, or issuable in lieu of, such bonds;
(G) For bonds to be signed on behalf of the city by facsimile signature of the Mayor and by manual signature of the City Clerk and the seal of the city shall be impressed, imprinted and reproduced thereon. The interest coupons on the bonds shall be signed by facsimile signature of the City Clerk. The foregoing officers shall be authorized and directed to sign the bonds and coupons in accordance with the section. If any city official whose manual or facsimile signature appears on the bonds or coupons ceases to be a member or officer before delivery of the bonds, the signature is as effective as if the official had remained in office. In lieu of the manual signature of the City Clerk on the bonds, they may be authenticated by the manual signature of a duly authorized officer of the trustee on the particular bond issue involved;
(H) If deemed advisable by the city, there may be retained in the proceedings an option to redeem prior to maturity all or any part of any bonds as may be specified in the proceedings, at such price or prices and after the notice or notices and on such terms and conditions as may be set forth in such proceedings and as may be briefly recited in the bond. Nothing in this chapter shall be construed to confer on the city any right or option to redeem any bonds, except as may be provided in the proceedings under which they shall have been issued;
(I) For the fixing and collection of revenues;
(J) For the creation and maintenance of special funds from such revenues, including reserve and sinking funds;
(K) For limitations on expenditures of bond proceeds;
(L) For the procedure by which any contract represented by bonds may be amended or abrogated;
(M) For the acts and omissions which shall constitute, and the right and remedies available, in an event of default. In such event of default, the obligations of the city may be enforced by mandamus, by the appointment of a receiver, by foreclosure of, or sale under, any resolution of issuance by injunction, by specific performance, by equitable relief, or by any one or more of such remedies, or any other appropriate remedy authorized by law;
(N) Limitations on the issuance of additional bonds, the terms upon which additional bonds may be issued and secured and be refunding of outstanding bonds;
(O) The procedure, if any, by which the terms of any contract with bondholders may be amended or abrogated, the amount of bonds the holder of which must consent thereto, and the manner in which such consent may be given;
(P) For the payment of administrative expenses or other expenses of the city;
(Q) Specifications of the acts or omissions to act which shall constitute a default in the duties of the city to holders of the bonds and providing the rights and remedies of the holders in the event of default;
(R) Issuing bonds in temporary form pending preparation of bonds in definitive form, at which time the temporary bonds shall be exchanged for definitive bonds in bearer or fully registered form;
(S) For any additional matters authorized to be included in the indenture provisions of a resolution of issuance or which relate to the security, protection or remedies of bondholders or which tend to make the bonds more marketable; and
(T) The bonds to contain such provisions not inconsistent with this chapter as the city may deem appropriate which are for the protection of the city or the bondholders or which tend to make the bonds more marketable.
(1995 Code, § 12.04.130)