In anticipation of the sale of bonds, the county may, by resolution, issue notes and
may renew the same from time to time. Such notes may be paid from the proceeds of
the bonds, the proceeds of the assessments, the proceeds of the notes and such other
legally available moneys as the council deems appropriate. Said notes shall mature
within five years of their issuance and shall bear interest at a rate not exceeding
the maximum rate provided by law. The council may issue bonds or renewal notes to
repay the notes. The proceeds of the bonds and notes, unless otherwise used to refund
bonds or notes, shall be used to pay the costs of the projects. The notes shall be
issued in the same manner as the bonds.
