No. 0413 authorize issuance of bands for the purpose of defraying expenses - Project IN R-66

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r L_ In the event no satisfactory bids are received on the day named in said notice, the Controller shall be authorized to continue the sale from day to day thereafter for a period of thirty (30) days without readvertisement; provided, however, that if said sale be continued, no bid shall be accepted which is lower than the highest bid received at the time fixed for said sale in the bond sale notice. The City Controller is hereby authorized and directed to obtain legal opinion as to the validity of said bonds from Ice, Miller, D.onadio & Ryan, bond counsel of Indianapolis, and to furnish such opinion to the purchaser of said bonds. The cost of said opinion shall be considered a part of the cost of said Projects and shall be paid out of the proceeds of said bonds. 6. The Mayor is hereby authorized to execute said bonds, the City Controller is hereby authorized and directed to have said bonds and coupons prepared and to execute the interest coupons to be attached thereto, and the City Clerk is hereby authorized to attest the bonds, and affix the seal of the City. After said bonds shall have been properly executed, the City Controller shall deliver the same to the St. Joseph County ANN Treasurer, ex Officio Treasurer of the City of South Bend and of the Redevelopment Commission, and shall take his receipt therefor; and upon consummation of the sale of said bonds, the City Controller shall then certify to the Treasurer the amount which the purchaser is to pay for the same; thereupon, said Treasurer shall be authorized to receive from the purchaser the amount so certified by the Controller and to deliver the bonds to such purchaser.