The legislative body shall determine the form of such bonds, whether registered or coupon, the rate and the dates of payment of interest thereon and the time or times, not more than thirty years from their date, at which they shall mature, the manner in which they shall be issued and by whom they shall be executed and sold.
(1949 Rev., S. 755; 1969, P.A. 424, S. 4.)
History: 1969 act removed provision limiting interest rate to 6% per year.