§ 7.09. Amount and purpose; obligations; form issuance.

(a)

The metropolitan government may issue its bonds or notes in such principal amounts as it shall deem necessary for any of its purposes.

(b)

The bonds or notes shall be payable and secured by such source or sources of payment as set forth in the resolution of the council authorizing the issuance of such bonds or notes.

(c)

Bonds or notes of the metropolitan government shall be authorized by resolution of the council and may be issued in one or more series and shall bear such date or dates, mature at such time or times, bear interest at such rate or rates of interest per annum within such maximum rate as shall be mandated by general law applicable to the metropolitan government, be in such denomination or denominations, be in such form either coupon or registered, carry such conversion or registration privileges, be secured and have such rank or priority, be sold and executed in such manner, be payable from such sources in such medium of payment at such place or places within or without the state, and be subject to such terms of redemption, with or without premium, as the resolution provides.

Editor's note— Former § 7.09 was deleted and a new § 7.09 was substituted at an election held Aug. 4, 1983.