6048 ESTABLISHING PROCEDURES TO BE FOLLOWED IN INCURRING INDEBTEDNESS FOR CORPORATE PURPOSES, ISSUING BONDS TO EVIDENCE SUCH INDEBTEDNESS AND AUTHORIZING AND DIRECTING THE LEVYING OF TAXES

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� . . . 2 Section 2. The Council of the City of Decatur shall adopt an ordinance, hereinafter designated the Bond Ordinance, describing the public purpose or purposes to be served by such borrowing and in such Bond Ordinance shall make a finding and determination that such borrowing of money is necessary for the welfare of the govern- ment and affairs of the City, is a proper public purpose or purposes and is in the public interest, which f inding and determination shall be deeme d conclusive. Section 3. The Bond Ordinance shall indicate the amount of money necessary to be borrowed, the amount of bonds to be issued in evidence thereof, shall fix the details of such bonds, including their date, number, denomination and �aturity, which shall not exceed forty (40) years from the date of said bonds, and their naximum rate of interest which shall not eacceed 10 per cent per annum payable semi- annually. The bonds shall be sold in such �nner as may be determined by the Council. The bonds shall be sold at a price of not less than par. , A contract for the sale of such bonds may be entered into prior to the adoption of the Bond Ordinance or the Bond Ordinance may pro- vide for the subsequent sale of the bonds therein authorized. In the event of such subsequent sale and if the bonds bear interest at a rate or rates less than that authorized in such Bond Ordinance, prior to the delivery of such bonds the taxes levied in such Bond Ordinance shall be abated by that amount representing the savings resulting from the sale of such bonds at a lower rate of interest than authorized in such Bond Ordinance. Section 4. The Bond Ordinance shall authorize the execution of the bonds therein authoriaed on behalf of the City of Decatur by the signatures of the Mayor and the Clerk of said City, sha11 require the seal of the City to be affixed to such bonds, shall determine whether such bonds to be issued shall be xegistered in the name of the owner as to principal only or whether the same shall be fully registered as to both principal and interest, shall indicate the place or places of payment of the principal and interest maturing on said bonds and shall set forth the form of bond. The Mayor may designate another to affix his signature to any full faith and credit bonds of the City which are required to be signed by the Mayor. In such case, the Mayor sha11 send to the Council a written notice of the person so designated by him, such notice stating the name of the person so selected and the particular bonds which such person sha11 have authority to sign as proxy for the Mayor. A written signature