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. '+ <br />and binding general obligations of the City, and the City is <br />obligated and requir,.d to levy taxes for the principal and <br />interest thereon as the same become due without limit as to <br />rate or amount. <br />Type of Bid - Amount <br />Sealed bids must be mailed or delivered to the undersigned <br />and must be received prior to the time of said meeting. Each <br />bid must be unconditional and must be accompanied by a cashier's <br />or certified check or bank draft in the amount of $18,120, <br />payable to the City Treasurer, to be retained by the City <br />as liquidated damages if the bid is accepted and the bidder fails <br />to comply therewith. The bid authorizing the lowest net interest <br />cost (total interest from date of bonds to stated maturities, <br />less any cash premium or plus any amount less than $906,000 bid <br />for principal) will be deemed the most favorable. No oral <br />bid and no bid of less than $888,500 for principal plus accrued <br />interest on all of the bonds will be considered, and the City <br />reserves the right to reject any and all bids and. to waive any <br />informality in any bid. <br />BY ORDER OF THE CITY COUNCIL <br />Robert E. Burkard <br />City Clerk <br />