§ 250.360.

INTEREST

Semi-annual interest coupons shall be attached to said bonds and be made payable on the second days of January and July of each year, excepting that the first coupon shall be for interest from their date to the second day of January next succeeding four months after the date of such bonds. Provision may be made for the payment of interest from the proceeds of the sale of the bonds for the period of acquisition and construction of the project and for one year thereafter. If, upon presentation at maturity, payment of any bond is not made as herein provided, interest shall continue at the same rate until the principal is paid in full.

History

(Added by Ord. 225-81, App. 5/5/81)

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