Form of debentures.

All debentures issued under this chapter shall be in such Form, and shall be transferable in such manner, as the Municipality may, by regulations, determine, and the right to sue in respect of the moneys secured by any of such debentures shall vest in the holders thereof for the time being without any preference being given to one debenture over another by reason of one being prior to the other in so far as the dates of the debentures are concerned.