Grant anticipation notes shall be sold at not less than par value and accrued interest. Grant anticipation notes may be sold in one (1) or more series, may bear such date or dates, shall mature at such time or times, may bear interest at such rate or rates (which may vary from time to time), may be payable at such time or times, may be in such denomination or denominations, may be in such form, either coupon or registered, may be payable at such place or places, may be executed in such manner, may be payable in such medium of payment, may be subject to such terms of redemption, without premium, at the option of the local government as grant funds become available for such purpose, all as may be provided by resolution of the governing body of the local government.