Sec. 23. If general obligation bonds are issued, they: (1) may be issued in any denomination; (2) are payable at a time not to exceed forty (40) years from issuance; (3) may bear interest at any rate payable semiannually; and (4) shall be sold for not less than par value and accrued interest; as provided by ordinance. The bonds shall be sold in accordance with IC 5-1-11 .
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