2406                                    MUNICIPAL CHARTERS

(3)   The form of the notice soliciting bids for the purpose of said bonds shall
set forth the date, place and time for receiving and opening bids and a brief
description of the purpose or purposes for which said bonds are to be issued, a
brief description of the denominations, maturities, terms, and conditions of said
bonds, a statement of the rate or rates of interest to be borne by said bonds or the
manner of determining the same, a precise statement of the manner in which the
best offer for said bonds will be determined and a reference to the resolution
authorizing the same. Said notice of sale may also require prospective purchasers
to submit bids on specified forms, may require such prospective purchasers to
accompany their bids with good faith deposits in specified amounts, may make
appropriate provisions for approval of the legality of such bonds, and may contain
a financial statement of the mayor and council. The foregoing provisions which
may be included in such notice of sale may also be separately set forth in a
circular or official statement.

(4)    Specific provision for the appropriation and disposal of the proceeds of
sale of said bonds and a specific provision for the payment of the principal thereof
and the interest thereon, which such provision shall also specify the source or
sources of such payment. Such ordinance may contain such other provisions, not
inconsistent with this section as the mayor and council may deem appropriate or
desirable, including authority to make such modifications in the forms adopted by
such ordinance as will not alter the substance of such forms.

(c) An ordinance so authorizing any such bonds may also provide:

(1)    That the principal of and interest on said bonds shall be payable at one
or more banks or trust companies, which may be either within or without the state.

(2)   That the official signatures and seals to be affixed to any such bonds or
the coupons, if any, attached thereto, except on such official signature, which shall
be manually affixed, shall be imprinted on said bonds or coupons in facsimile.

(3)    That any such bonds shall be redeemable in whole or in part at the
option of the mayor and council at any time prior to the respective maturities
thereof at such price or prices, either at or above the par value of such bonds as
the mayor and council may prescribe in the enabling ordinance, provided that any
such bonds shall contain a statement of such redemption provisions and provided
further that such enabling ordinance shall make provision for due and proper prior
published notice of any such redemption.

(4)   That any such issue of bonds shall be in varying denominations and shall
be in coupon form, registerable as to principal only, or in fully registered form, or
both, provided that, if both forms are authorized, the same shall be
interchangeable.

(5)   That, in the event any official whose signature shall appear on any such
bonds shall cease to be such official prior to the delivery of such bonds or, in the
event any such official whose signature shall appear on any such bonds shall have
become such after the date of issue thereof, said bonds shall nevertheless be valid
and binding obligations in accordance with their terms.

(6)   That the taxes or other revenues, or both, from which the principal of or
interest on any such bonds are expressly made payable, may be paid in whole or in
part to a bank or trust company designated by the mayor and council, for
administering and disbursement pursuant to a trust instrument between the mayor
and council and such bank or trust company.