In case said bonds will be issued, such bonds shall be run for not more than twenty years and bear interest at a rate not to exceed the maximum rate of interest prescribed by K.S.A. 10-1009 and to be in denominations of not less than $100 nor more than $1,000.

L. 1925, ch. 248, § 3; L. 1970, ch. 64, § 86; March 21.