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telex number. The notice must also state: (1) the amount of the <br />• Bonds to be offered; (2) the denominations; (3) the dates of <br />maturity; (4) the maximum rate or rates of interest; (5) the place <br />of sale; and (6) the time within which the name, address and <br />telephone number must be furnished, which must not be less than <br />seven days after the last publication of the notice. Each person <br />so registered shall be notified of the date and time bids will be <br />received not less than twenty-four (24) hours before the date and <br />time of sale. The notification shall be made by telephone at the <br />number furnished by the person, and also by telex if the person <br />furnishes a telex number. All bids for Bonds shall be sealed and <br />shall be presented to the Secretary at the principal office of the <br />Authority, and the Secretary shall continue to receive all bids <br />• offered until the hour fixed for the sale of the Bonds, at which <br />time and place he shall open and consider each bid. Bidders for <br />the Bonds shall be required to name the rate or rates of interest <br />which the Bonds are to bear, not exceeding the maximum rate set <br />forth herein. The interest rate on Bonds of a given maturity must <br />be at least as great as the interest rate on Bonds of any earlier <br />maturity. Bids specifying more than one interest rate shall also <br />specify the amount and maturities of the Bonds bearing each rate, <br />and all Bonds maturing on the same date shall bear the same single <br />rate of interest. Subject to the provisions contained below, the <br />Secretary shall award the Bonds to the bidder offering the lowest <br />net interest cost to the Authority, to be determined by computing <br />the total interest on all of the Bonds from the date thereof to <br />• <br />-4- <br />