§ 18-4-404 — Form, terms, conditions and execution of bonds; payment and interest; sale price

(a) The viaduct or subway bonds:
(i) Shall be payable thirty (30) years from the date
of issue;
(ii) Shall be redeemable at the option of the county
after ten (10) years;
(iii) Shall bear interest payable on January 15 and
July 15 each year;
(iv) Shall be issued in any combination of one
thousand dollars ($1,000.00), five hundred dollars ($500.00) or
one hundred dollars ($100.00) denominations;
(v) Shall be consecutively numbered from the number
one (1);
(vi) Shall be signed by the chairman of the board of
county commissioners and attested by the county clerk who shall
affix the county seal thereto;
(vii) May have attached when negotiated, semiannual
interest coupons signed by the county treasurer.
(b) At the request of the purchaser or holder the county
treasurer shall issue to him registered bonds or shall exchange
registered bonds for coupon bonds. The principal and interest
shall be payable at the office of the county treasurer of the
county, at the office of the state treasurer or at some bank in
the City of New York as designated by the board of county
commissioners. The bonds shall not be sold for less than their
full or par value and the accrued interest thereon at the time
of delivery.