1. (a) The ordinance specified in section 35 of this chapter shall provide for the following:

   1. (1) The issuance, sale, execution date, and principal of each bond to be issued.
   2. (2) The number of bonds and the aggregate principal of the bond issue.
   3. (3) The payment of interest on the bonds annually or semiannually.
   4. (4) A maturity date that is within twenty-five (25) years from the date of execution of the bonds.
   5. (5) Any other terms authorized or required by statute.

2. (b) The city fiscal body also shall pledge the full faith and credit of the city, with the city's taxable property, to the redemption of the bonds on the respective maturity dates of the bonds and to the payment of all interest becoming due on the bonds.

   [Pre-1993 Recodification Citations: 16-12.2-5-25(c); 16-12.2-5-26.]

As added by P.L.2-1993, SEC.6.