No. 0819 authorizing issuance of bonds on parity with COSB redevelopment district tax increment revenue bonds of 1985 & 1986 for purpose of raising money for property acquisition and redevelopment in SBCAA

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below, the Controller shall award the Series 1988 Bonds to the Bidder offering the lowest interest cost to be determined by computing the total interest on all of the Series 1988 Bonds from the date thereof to the date of their maturities and deducting therefrom the premium bid, if any or adding thereto the amount of discount, if any. No bid for less than ninety- seven - and - one -half percent (97 -1/2 %) of the par value of the Series 1988 Bonds, and accrued interest at the rate named to the date of delivery, shall be considered. If no acceptable bid is received at the time fixed for the sale of the Series 1988 Bonds, then the sale may be continued from day to day for a period not to exceed thirty (30) days without re- advertising. During the continuation of the sale, no bid shall be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale in the Series 1988 Bond sale notice. The acceptability of a bid is within the sole discretion of the Controller. SECTION 11. Instead of proceeding with an advertised public sale, as provided in Section 10, above, the Controller in his dis- cretion and with the approval of the Commission may sell the Series 1988 Bonds by private negotiated sale, as provided by IC 36-7-14 - 25.1(g). However, the Controller may not sell the Series 1988 Bonds at a price less than, and at an interest rate higher than, the mini- mum price and the maximum interest rate, respectively set forth herein. SECTION 12. The Controller is hereby authorized and directed to obtain a legal opinion as to the validity of the Series 1988 Bonds from Baker & Daniels, bond counsel, of Indianapolis, Indiana, and to furnish such opinion to the purchaser of the Series 1988 Bonds. The cost of said opinion shall be considered as part of the costs inciden- tal to these proceedings and shall be paid out of the proceeds of the Series 1988 Bonds. SECTION 13. Any Series 1988 Bonds issued under this Series 1988 Bond Resolution may be initially issued in temporary form exchange- able for definitive Series 1988 Bonds. The temporary Series 1988 Bonds may be printed, lithographed or typewritten, shall be of such denominations as may be determined by the Commission, shall be in fully registered forms and may contain such reference to any of the provisions of this Series 1988 Bonds Resolution as may be appro- priate. Every temporary Series 1988 Bond shall be executed, sealed and attested by the Mayor and Controller in substantially the same manner as provided in Section 1 hereof. If temporary Series 1988 Bonds are issued, definitive Series 1988 Bonds will be executed and furnished without delay and thereupon the temporary Series 1988 Bonds may be surrendered for cancellation at the principal office of the Registrar and the Registrar shall deliver in exchange for such temporary Series 1988 Bonds an equal aggregate principal amount of definitive Series 1988 Bonds of the same interest rates and maturities. Until so exchanged, the temporary Series 1988 Bonds shall be entitled to the same benefits under this Series 1988 Bond Resolution as definitive Series 1988 Bonds issued hereunder. -26-