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to the offering price, or no cash sale for any <br />other reason, then the Board may call for bids <br />by publication offering the property for sale at <br />not less than the offering price on credit in pay- <br />ments not to extend over a period of more than <br />three (3) years, payable in equal quarterly install- <br />ments with interest at a rate to be established <br />by the Board payable in advance. In establishing <br />the rate of interest the Board shall give primary <br />consideration to the rate then being charged by <br />local lending institutions for similar transactions. <br />The publication, bidding and award procedures <br />shall be the same set forth above. <br />(5) If the Board does not receive an acceptable cash <br />or installment bid for the property as a result <br />of the above procedures, then the property cannot <br />be sold for less than the average of the two app- <br />raisals without specific authorization by Reso- <br />lution of the Common Council. <br />(6) Notice required by publication under this section <br />shall appear in two (2) newspapers of general cir- <br />culation in the City of South Bend on two (2) non- <br />consecutive days, the last notice to appear at least <br />fourteen (14) days prior to final date for receipt <br />of bids which shall be the date on which the bids <br />are opened. The published notice shall specify <br />the general location of the peoperty, any limita- <br />tions on use of the property, the offering price, <br />the date, time and place for opening bids, the <br />deadline for receipt of bids, and any other infor- <br />mation or bidding requirements which the Board <br />