An issue of bonds shall constitute all of the bonds issued pursuant to a resolution of intention. Each issue shall be given a serial designation. The Board may, in its discretion, divide the issue into two or more divisions and fix different dates for the bonds of each division, in which event the bonds of each division shall be made payable at such time or times as the Board shall determine. Possession bonds shall constitute a division of an issue. All bonds of any issue shall have equal priority.
(Added by Ord. 225-81, App. 5/5/81)