All certificates of indebtedness or other evidence of indebtedness shall be issued after the recommendation by a three-fifths vote of the board of trustees of the hospital and the adoption by a three-fifths vote of the city council of a resolution setting forth the necessity for the borrowing and the amount of the assessed valuation of the municipality and the amount of funds to be borrowed thereon. All certificates of indebtedness or other evidence of indebtedness shall be offered at public sale by the board of trustees or city council after not less than 10 days advertising in a newspaper of general circulation within the municipality and if no newspaper of general circulation is printed within the municipality, then in a newspaper of general circulation within the county in which the municipality is located. Each sale shall be made to the bidder offering the lowest rate of interest or whose bid represents the lowest net cost to the municipality. However, the rate of interest shall not exceed the rate prescribed in Section 53531.
The certificates of indebtedness or other evidences of indebtedness shall be signed on behalf of the municipal hospital by the mayor of the city and attested by the city clerk of the city.
37600
37601
37602
37603
37604
37604.1
37604.2
37605
37606
37606.1
37607
37608
37609
37609.1
37610
37611
37612
37612.1
37612.2
37612.3
37613
37614
37614.1
37615
37615.1
37615.2
37615.3
37615.4
37615.5
37615.6
37615.7
37615.8
37616
37617
37618
37618.1
37618.2
37618.3
37618.4
37619
37620
37621
37622
37623
37624
37624.2
37624.3
37625
37601
37602
37603
37604
37604.1
37604.2
37605
37606
37606.1
37607
37608
37609
37609.1
37610
37611
37612
37612.1
37612.2
37612.3
37613
37614
37614.1
37615
37615.1
37615.2
37615.3
37615.4
37615.5
37615.6
37615.7
37615.8
37616
37617
37618
37618.1
37618.2
37618.3
37618.4
37619
37620
37621
37622
37623
37624
37624.2
37624.3
37625