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S. All bids. for said bonds shall be sealed and shall' ' <br />` .�rbe <br />presented <br />to the City Controller at his office. Bidders <br />for said <br />bonds shall be required to name the rate or rates <br />of interest <br />which the bonds are to bear, not exceeding five <br />pence <br />t (596) per annum, and such interest rate or rates shall <br />be in <br />multiples,. pf ' one - eighth. (1/8) of • one percent (1%) and . <br />>` <br />not m <br />re than three (3) interest rates shall be named by each <br />bidde <br />. Sids..specifying more than one interest rate shall <br />' <br />also specify,thd <br />amount-and maturities of the bonds bearing, <br />` <br />each rate, <br />but p1l bonds maturing on the date shall bear the <br />same <br />ate. The::Controller shall award the bonds to the ' <br />highs st <br />qualified bidder. The highest bidder shall be the <br />' <br />one w <br />o net' interest cost to the Commission, ' <br />=t <br />.offers .the..lowest <br />to be <br />. <br />determinedbp computing the total interest on all of the <br />a t .bonds <br />to their maturities •and deducting therefrom the, premuu�1„ ,. <br />bid, if <br />any. No: bid for less than the par value of said bonds, <br />! <br />F <br />, <br />including <br />accrued, interest at the rate named to the date of " <br />I <br />delivery, <br />shall, I The Controller shall have { <br />t• <br />,be.:considered. <br />= .'full <br />right <br />to reject. any and. all bids. In the event no <br />satisfactory <br />bids are received on the day named in said <br />r <br />notic <br />the Controller shall be authorized to continue the <br />, <br />sale from <br />day to day thereafter for a period of thirty (30) <br />-. <br />days <br />ithoutreadvertisement; provided,' however,: that if <br />said sale <br />be continued' no bid• shall be. accepted .;which ' is <br />lower <br />than the highest- bid received at:'the�'time; fixed for. <br />said ` <br />ale in the bond sale notice. ` �,, <br />i r 1 l y 1 <br />I <br />` <br />I•I <br />• - <br />� � <br />1 ` r t- t l . y � c <br />