§ 26-21.2. Declaration in Resolution of Intention.
Latest version.
When the Council shall have determined that bonds shall be issued to represent the
cost and expenses of any proposed work or improvement or of the possession or acquisition
of any property in any such proceeding, it shall so declare in its resolution of intention
therefor, and shall specify pursuant to which plan herein provided, such bonds shall
be issued, the date of their maturity following the date of their issuance, the interest
rate which they shall bear, which shall not exceed six (6%) percent per annum; provided,
however, that such interest rate may be stated to be not to exceed a rate stated therein.
(Ord. No. 941 N.S.)
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