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of delivery. <br />year basis. <br />by the City. <br /> <br />Right of <br />Rejection: <br /> <br />net interest cost to the City. The purchaser must pay <br />accrued interest from the date of the bonds to the date <br /> <br /> Ail interest shall be computed on a 360-day <br /> The cost of printing the bonds will be borne <br /> <br />bids and to waive <br />bid. <br /> <br />Promp$ Award: <br /> <br /> The City reserves the right, in its <br /> <br />discretion, to reject any and all <br />any irregularity or informality in any <br /> <br />The Council will take action awarding <br />the bonds or rejecting all bids not <br />later than 26 hours after the expiration of the time herein <br />prescribed for the receipt of proposals, unless such time <br />of award is waived by the successful bidder. Notice of <br />the award will be given promptly to the successful bidder. <br /> <br />Delivery Delivery of the bonds will be made to <br />and Payment: <br /> the successful bidder at the San <br /> <br />Francisco Main Office of Bank of America National Trust <br />and Savings Association, in San Francisco, California, <br /> <br /> the bonds can be prepared, but not prior to <br /> <br />as soon as <br /> <br />their date. <br /> <br />Right of <br />Cancellation: <br /> <br />The successful bidder shall have the <br />right, at his option, to cancel the <br />contract of purchase if the City shall fail to execute <br />the bonds and tender the same for delivery within 60 days <br />from the date of sale thereof, and in such event the suc- <br />cessful bidder shall be entitled to the return of the <br />deposit accompanying his bid. <br /> <br /> <br />