The ordinance shall recite: (a) The object and purpose of incurring the indebtedness. (b) The estimated cost of the public improvements. (c) The amount of the principal of the indebtedness. (d) The rate or maximum rate of interest on the indebtedness, which shall not exceed 7 percent, and need not be recited if it does not exceed 4 1 2 percent. Such interest shall be payable semiannually, except that interest for the first year after the date of the bonds may be made payable at the end of such year. (e) The date of the election. (f) The manner of holding the election and the procedure for voting for or against the proposition.
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