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lfM)r rC ^°^v XOPOI 7t Y <br />Py <br />J <br />s 1 <br />I <br />i <br />ion <br />oa3x <br />Odoo i <br />a <br />, oaxf <br />�doo dog <br />1 ova <br />oa�x 3x <br />S. All bids for said bonds shall be sealed and shall <br />be <br />presented to the City Controller at his office. Bidders <br />for <br />said bonds shall be required to name the rate or rates of <br />i <br />terest which the bonds are to bear, not exceeding five per <br />cent <br />(5% per annum, and such interest rate or rates shall be <br />irk <br />multiples of one - eighth (1/8) of one per cent (1%) and <br />not <br />more than three (3) interest rates shall be named by each <br />b <br />dder. Bids specifying more than one interest rate shall <br />also <br />specify the amount and maturities of the bonds bearing <br />each <br />rate, but all'bonds maturing on the same date shall bear <br />- the <br />same rate. The Controller shall award the bonds to the <br />highest <br />qualified bidder. The highest bidder shall be the one <br />w <br />o offers the lowest net interest cost to the Commission, to <br />be <br />determined by computing the total interest on all of the <br />bonds <br />to their maturities and deducting therefrom the premium <br />bid, <br />if any. No bid for less than the par value of said <br />bonds, <br />including accrued interest at the rate named to the <br />date <br />of delivery, shall be considered. The Controller shall <br />have <br />full right to reject any and all bids. In the event no <br />satisfactory <br />bids are received on the day.named in said notice, <br />t <br />e Controller shall be authorized to cpntinue the sale from <br />day <br />to day thereafter for a period of thirty (30) days without <br />r <br />advertisement; provided,'however, that if said sale be continued, <br />no <br />bid shall be accepted which is lower than the highest bid <br />received <br />at the time fixed for said sale in the bond sale notice. <br />lfM)r rC ^°^v XOPOI 7t Y <br />Py <br />J <br />s 1 <br />I <br />