COM 0101.044 1998-2000 - Laserfiche WebLink

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sale and definitive bonds, and any cost of publications required by law or as otherwise appropriate. The cost of issuance of the Bonds shall be allocated pro rata to each of the particular improvements financed from the proceeds of the Bonds; and appropriations therefor are hereby made. The proceeds derived from the sale of the Bonds may be used to reimburse the General Fund for funds theretofore borrowed pursuant to resolutions of the County Council to pay costs of certain appropriations set forth in SECTION 14. SECTION 3. Details of Bonds. The Bonds authorized for issuance and sale in SECTION 1 hereof shall be issued and sold in their entirety at one time as a separate series of general obligation bonds of the County, or as a part of a series of other general obligation bonds of the County, or from time to time in series, all as shall be determined by the Director of Finance to be in the best interest of the County. The Bonds shall be issued in fully registered form without coupons in the denomination of $5,000 or any integral multiple of $5,000, or in such other denominations as the Director of Finance shall determine. The Bonds of a series shall be numbered from 1 upwards in chronological order of delivery or shall be numbered in any other manner as the Director of Finance shall determine. The Bonds of a series shall mature annually on such day in each year in substantially equal installments of principal or in substantially equal installments of principal and interest, the first of such maturities to be no later than five years from the date of the Bond of such series and the last of such maturities to be not later than twenty-five years from the date of the Bonds of such series, may be redeemable prior to the stated maturity thereof at any time at prices not exceeding 105% of the principal amount thereof, and shall bear interest at such rate or rates per annum, not exceeding nine percent (9%) per annum, as shall be specified in the contract approved or the bid accepted for the purchase of the Bonds of such series if any contract therefor be approved or any bid therefor be 2