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S"c. 3. The City Controller is hereby authorized and directed to <br />have said warrants prepared in the sum herein provided and to sell said <br />warrants as a whole, or in parcels, to the highest bidder therefor, at <br />not less than the face value thereof, plus accrued interest, if any, <br />after the date thereof, after giving notice of said sale thereof, once <br />each week, for two (2) weeks in the South Bend Tribune and in the Tri- <br />County News. The highest bidder shall be the one who offers the lowest <br />net interest cost to the City, to be determined by computing the total <br />interest of all the warrants to their maturity or maturities and deducting <br />therefrom the premium bid, if any, The notice of the sale shall describe <br />briefly the warrants, setting out the facts in regard to the amount, <br />denomination, rate of interest, dates d: issuance and maturity, and a <br />fixed time and place for the receiving of bids therefor. The Controller <br />shall be authorized to reserve the right to deliver all of said warrants <br />at time, or in parcels as stated in said Notice. The Controller <br />shall have the right to reject any and all bids. In the event that no <br />satisfactory bids for said warrants are received at the time fixed in <br />said notice, the sale may be continued from day to day thereafter for a <br />period not to exceed thirty (30) days without readvertisement, but durin <br />the continuation of such sale no bid shall be accepted which is lower <br />than the highest bid received at the time fixed for saidsale in said <br />notice. <br />Sec. 4. This Ordinance shall be in full firce and effect from and <br />after its passage and signing by the ala.yor. <br />n r of the Common Council <br />Passed by the Common Council of the City of Sou h Bend on the V3 <br />day of March, 1964. <br />ATTEST: <br />Uizty Uierk <br />Presented by me to the Iviayor <br />day of March, 1964, at the hour of <br />This Ordinance <br />1964, at the hour of <br />Council <br />of the City of South Bend, on the 23rd <br />10.00 o'clock A. M. <br />it <br />�4�� % <br />Ier <br />approved and k <br />dd o'cic <br />3 -a 3 -6 5L <br />110i k'F-uv¢:D <br />REFERRED <br />PASSED <br />