The city may sell the bonds so authorized at public or private sale, at the times
and in the manner the board deems appropriate. However, all bonds sold at public sale
shall be sold on sealed proposals after advertising for bids by publication of notice
of sale, not less than 5 days prior to the date of sale, in a newspaper of general
circulation circulating in the city. If no bids are received or the bids received
are not satisfactory as to price or responsibility of the bidders, the board or its
designee may reject all bids received, if any, and either readvertise or sell the
bonds at private sale.
(Ord. 6471 § 2 (part), 1992)
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