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The bonds may be issued as serial bonds or as term bonds, or the council, in its discretion, may issue bonds of both types. The bonds shall be authorized by resolution of the council and shall bear such date or dates, mature at such time or times, bear interest at such fixed or variable rate or rates, be payable at such time or times, be in such denominations, be in such form, either coupon or registered, carry such registration privileges, be executed in such manner, be payable in lawful money of the United States of America, at such place or places, and be subject to such terms of redemption as the resolution or resolutions of the council may provide. The bonds may be sold at either a public or private sale and for such prices as the council shall determine. Pending preparation of the definitive bonds, the city may issue interim receipts, certificates, or temporary bonds, which shall be exchanged for such definitive bonds. (Ord. 1047 (part), 1985)