This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
The question to be voted on is usually submitted by ordinance or resolution. The resolution or ordinance must show the purpose for which the debt is to be incurred.1 Describing the debt to be bonded as "outstanding indebtedness other than municipal bonds" is not sufficient.2 The amount of the debt must be given,3 but if the rate of interest is given it is not necessary to compute it.4 In some jurisdictions the proposition submitted must specify the exact amount to be issued, and not merely the maximum amount for which authority is wished ;5 in others it is sufficient to state the maximum amount.6
 
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