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officer in whose office the original is filed, will be <br />printed on each bond without charge to the successful <br />bidder. <br /> <br />,.TERM8 OF SALE <br /> <br /> Highest Bid: The bonds will be awarded to the <br /> <br /> highest bidder considering the inter- <br /> <br />est rate or rates specified and the premium offered, if <br />any. The highest bid will be determined by deducting the <br />amount of the premium bid (if any) f~om the total amount <br />of interest which the City would be required to pay from <br />the date of the bonds to their respective maturity dates <br />at the coupon rate or rates specified in the bid, and the <br />award will be made on the basis of the lowest net interest <br />cost to the City. The purchaser must pay accrued interest <br />fi, om the date of the bonds to the date of delivery. Ail <br />interest will be computed on a 360-day year basis. The <br />cost of printing the bonds will be borne by the City. <br /> <br />Right of <br />Re~ection: <br /> <br />all bids and <br />any bid. <br />P~ompt Award: <br /> <br /> The City Council reserves the right, <br /> <br /> in its discretion, to reject any and <br />to waive any irregularity or informality in <br /> <br />The City Council will take action <br />awarding the bonds or rejecting all <br />bids not later than 24 hours after the expiration of the <br />time herein prescribed for the receipt of proposals, <br />unless such time of award is waived by the successful <br />bidder. <br /> <br /> <br />