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(13) The terms of redemption and the redemption price or prices to which the bonds are <br /> subject; <br /> (14) The pledge or assignment of all or part of the assessments collected from the district <br /> thereof, the liens securing such assessments, or any other funds which are intended by the <br /> council to secure payment of the bonds. The pledge shall be superior to all other claims <br /> on the assessments (except to the extent otherwise provided in this chapter and the bond <br /> ordinance); <br /> (15) The establishment and handling of a separate special fund or funds to pay or secure the <br /> bonds or to pay for the costs of supplemental improvements or incidental expenses; <br /> (16) The obligations in which may be invested the proceeds of the bonds and any other funds <br /> (including assessments) pledged to secure payment of the bonds; and <br /> (17) Any other provisions for the issuance, payment, security, credit enhancement, handling of <br /> funds, default, remedy, or other matter related to the bonds, which the council deems <br /> appropriate. <br /> (b) The bond ordinance may provide that any or all of the terms listed in this section or elsewhere in <br /> this article may be determined and fixed by the director of finance at or prior to the delivery of <br /> the bonds or in an indenture, trust agreement, or fiscal agent agreement between the county and a <br /> corporate trustee or fiscal agent located within or without the state. <br /> Section -50. Costs includable in bond principal. <br /> The principal amount of bonds authorized to be issued may include all costs and estimated costs <br /> of supplemental improvements and related expenses. <br /> Section -51. Minimum value-to-lien ratio. <br /> The principal amount of bonds authorized to be issued for a district shall not exceed one-third of <br /> the value of the real property upon which an assessment is levied for payment of the debt service on the <br /> bonds. The "value of the real property" shall be the fair market value of the land, the improvements <br /> thereon and the improvements, within the meaning of section -5, to be constructed within the <br /> district, as shown by the real property tax assessed values of the subject property. <br /> Section -52. Covenant to pursue foreclosure action to collect delinquent special assessments. <br /> The director of finance may covenant, for the benefit of bond owners, to commence and <br /> diligently pursue to completion any foreclosure action regarding delinquent assessments. The covenant <br /> may specify a deadline for commencement of the foreclosure action and any other terms and conditions <br /> <br /> the director of finance determines reasonable regarding the foreclosure action. <br /> Section -53. Signing of bonds. <br /> Unless otherwise specified in the bond ordinance, the bonds shall be signed by the mayor and <br /> <br /> countersigned by the director of finance or the director's deputy. Signatures on the bonds may be manual <br /> <br /> or facsimile. If any officer whose signature appears on the bonds vacates the office before the delivery of <br /> <br /> the bonds, the signature shall be as effective as if the officer had remained in office. <br /> Section -54. Manner of sale. <br /> The director of finance may sell bonds at public or private sale at the times, for the price or <br /> <br /> prices, and in the manner the council determines to be appropriate and in the public interest (such <br /> <br /> determination being final and conclusive). <br /> <br /> Section -55. Bond fund. <br /> All of the collections for payment of principal of and interest on bonds and related expenses shall <br /> <br /> be paid into a district bond or reserve fund and shall be used solely for the payment of the principal of and <br /> 16 <br /> <br />