(a) Obligations of the Authority shall be authorized by a resolution adopted by the vote of a majority of the full Board and approved by a vote of the Council.

(b) Obligations may be issued in one or more series.

(c) The obligations shall bear such dates, mature at such times, bear interest at such rates, be in such denominations, be in such form, either coupon or registered, carry such conversion or registration privileges, have such rank or priority, be executed in such manner, be payable in such medium of payment and at such places, and be subject to such terms of redemption with or without premium, as such resolution may provide.

(d) The obligations may be sold at public or private sale at not less than par.

(e) In case any of the commissioners of the Authority whose signatures appear on any obligations cease to be commissioners before the delivery of such obligations the signatures shall, nevertheless, be valid and sufficient for all purposes, the same as if the commissioners had remained in office until delivery. [Ord. 37A § 4305, adopted, 6/6/2014.]