(1) The bonds mentioned in ORS 381.605 shall:
(a) Be in denominations of $100 or more, but not exceeding $1,000.
(b) Run not to exceed 30 years from the end of the respective issues thereof.
(c) Bear interest at a rate not to exceed six percent per year, payable on January 1 and July 1.
(d) Have interest coupons attached to them, one coupon for each interest payment that will be made.
(2) The bonds and interest coupons shall:
(a) Be lithographed or printed on good bond paper.
(b) Be made payable to bearer, in any coin or currency which, at the time of payment, is legal tender for the payment of public and private debts within the United States.
(c) Be paid by the city treasurer upon presentation at the office of the city treasurer or at the fiscal agency of the state in New York City, upon the date of payment named thereon.
(d) Be signed by the mayor and city recorder. The interest coupons shall bear the printed facsimile signatures of the mayor and city recorder.
(e) Be sealed with the seal of the council.
(f) Bear the certificate of the city treasurer, over the signature of the city treasurer, that they have been registered in the office of the city treasurer, naming the date of registry.
Section: Previous 381.610 381.611 381.615 381.620 381.625 381.630 381.635 381.640 381.645 381.650 381.655 381.660 381.665 381.670 381.805 NextLast modified: August 7, 2008