Authorizing Temporary Loan for General Fund and the Issuance and Sale of Warrants

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date thereof, after giving notice of said sale thereof, once each week, for two (2) weeks in the South Bend Tribune and in the Tri- County News. The highest bidder shall be the one who offers the lowest net interest cost to the City, to be determined by computing the total interest of all the warrants to their maturity or maturities and deducting therefrom the premium bid, if any. The notice of the sale shall describe briefly the warrants, setting out the facts in regard to the amount, denomination, rate of interest, dates of issuance and maturity, and a fixed time and place for the receiving of bids therefor. The Controller shall be authorized to reserve the right to deliver all of said warrants at one time, or in parcels as stated in said Notice. The Controller shall have the right to reject any and all bids. In the event that no satisfactory bids for said warrants are received at the time fixed in said notice, the sale may be continued from day to day thereafter for a period not to exceed thirty (30) days without readvertisement, but during the continua- tion of such sale no bid shall be accepted which is lower than the high- est bid received at the time fixed for said sale in said notice. Section 4. This Ordinance shall be in full force and effect from and after its passage and signing by the Mayor. Member of the Common Council Pa ed by the Common Council of the City of uth Bend on the C:2._A day of 1968. Presiding Officer of the Common Council ATTEST: I la4Lt/ 1 Gi�y Cle Pr sented by me to the Mayor of the City of South Bend, on the o2 5� day of ��`-'�, 1968, at the hour of o2S o'clock �.M. yC'ty Clexx _ This Ordinance approved and 1968, at the hour sign- v me on the day of of o'Clock N1. Ist H. 2nd RENDING 1/25/68 CDfM51TTEE OF THE WHOLE PUBLIC HEARING 1/25/68 3rd READING 1/25/68 NOT A PROVED — 3 — REFERRED PASSED 1/25/68 Suspension of Rules