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Public Finance Act, and the Charter of the City, as amended, <br />• for the purpose of providing funds to pay the cost of public <br />school improvements of and for the City, there are authorized <br />to be issued three million dollars ($3,000,000) principal <br />amount of general obligation bonds of the City to be designated <br />"General Improvement Bonds" (the "Bonds"). The Bonds shall <br />be issued and sold in their entirety at one time, or from <br />time to time in part in series, as shall be determined by <br />the City Manager of the City. The Bonds may be sold at the <br />same time as other general obligation bonds are sold by the <br />City. All such Bonds shall be issued in bearer form with <br />coupons attached and without privilege of registration and <br />shall be in the denomination of $5,000. The Bonds of a <br />• given series shall be numbered from 1 upwards in order of <br />maturity; shall mature in numerical order annually on the <br />• <br />day in each year which is the anniversary of the date of the <br />Bonds, commencing in such year and in such amount in each <br />year as shall be determined by the City Manager; and shall <br />bear interest at such rate or rates per annum as shall be <br />specified in the bid accepted by resolution of this Council <br />for the purchase of the Bonds of such series, if any bid <br />therefor be accepted, such interest being payable on the day <br />which is six (6) months from the date of the Bonds of such <br />series and semiannually thereafter. The City Manager is <br />authorized to determine, in accordance with and subject <br />-2- <br />