§ 7B.06. Procedures for sale and terms of bonds and notes.

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All bonds and notes shall be sold in such manner, either at public or private sale, for such price and upon such terms, including without limitation amounts, principal maturities, sinking fund requirements, maturity dates, interest rates and redemption features, as the council may determine by ordinance or resolution, or as the director of finance, with the approval of the chief administrative officer, may determine, when authorized to do so by ordinance or resolution. Furthermore, interest rates may be determined by reference to indices or formulas or agents designated by the council under guidelines established by it, or, when authorized to do so by ordinance or resolution, such determination and designation may be made by the director of finance, with the approval of the chief administrative officer.

(Acts 1998, Ch. 711; Acts 2005, Ch. 844, § 1)

(Acts 1998, Ch. 711; Acts 2005, Ch. 844, § 1)

                    
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