Authorizing Temporary Loan for General Fund 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 war- rants 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 in- terest, 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 with- out readvertisement, but during the continuation of such sale no bid shall be accepted which is lower than the highest 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. / Ll e er of the Common Council Passed by the Common Council of the City of South Bend on the 14 day of Aumisr 1967. Z P e iding Officer of the Co on YnciI ATTEST: i Presented day of , by me to the Mayor of the 1967, City of South Bend, on at the hour of S o'clock the / S /�.M. This ordinance ap oved and sig. 1967, at the hour of 7O o'clock `� r Ist & 2nd READING -8-14-67 COMMITTEE OF THE WHOLE PUBLIC HEARING 8 -14 -67 3rd READING 8 -14 -67 NOT APPROVED REFERRED PASSED 8 -14 -67 Suspension of rules - 3 -