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interest, if any, after the date thereof, after giving notice of sale thereof, once <br />each week, for two (2) weeks in the South Bend Tribune and The Record. The <br />highest bidder shall be the one who offers the lowest net interest cost to the City, <br />to be determined by computing the total interest on all of the warrants to their <br />maturity or maturities and deducting therefrom the premium bid, if any. <br />The notice of sale shall describe briefly the warrants, setting out the facts <br />in regard to the amount, denomination, rate of interest, dates of issuance and <br />maturity, and a fixed time and place for the receiving of bids therefor. The <br />Controller shall be authorized to reserve the right to deliver all of said warrants <br />at one time, or in parcels, as stated in said notice. The Controller shall have <br />the right to reject any and all bids. In the event no satisfactory bids for said <br />warrants are received at the time fixed in said notice, the sale may be continued <br />from day to day thereafter for a period of not to exceed thirty (30) days without <br />readvertisement, but during the continuation of such sale no bid shall be accepted <br />which is lower than the highest bid received at the time fixed for said sale in <br />said notice. <br />Sec. 4. This Ordinance shall be in full force and effect from and after its <br />passage and signing by the Mayor. <br />SEP 1 1 '61 Pm <br />F I L _ D <br />C�. CF SOUTH BEND <br />FNce'. G. NOBLE, CLERK <br />Member of the Common Counci <br />let k 2nd READWG fl 41 <br />OOMMRTEE OF THE WHILE <br />PUSLIO HEARING / n <br />3rd RL4008 q1 h A , 4 ,' <br />HOT APPWM <br />REFWEN <br />PASSED qll ll� f <br />-4- <br />