Bonds -- Interest on -- When payable -- How sold

All bonds issued under the provisions of KRS 162.170 for common school purposes may bear interest at a rate or rates or method of determining rates, payable at least annually, and shall be executed in a manner and be payable at times, not exceeding thirty (30) years from the date of issue, and at a place as the governing body of the city determines. The bonds shall be sold in a manner and upon terms as the governing body of the city deems for the best interest of the city.