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<br />',' <br /> <br />Type of Bid - Amount <br /> <br />Sealed bids must be mai led or deli vered to the under- <br />signed and must be received pr ior to the time speci fied <br />above for the opening of bids. Each bid must be uncondi- <br />tional and must be accompanied by a cashier's or certified <br />check or bank draft in the amount of $28,000, payable to the <br />City Clerk-Treasurer, to be retained by the City as liqui- <br />dated damages if the bid is accepted and the bidder fails to <br />comply therewith. The bid authorizing the lowest net inter- <br />est cost (total interest from date of bonds to stated matu- <br />rities, less any cash premium or plus any amount less than <br />$1,400,000 bid for principal) will be deemed the most favor- <br />able. No oral bid and no bid of less than $1,373,000 for <br />principal plus accrued interest on all of the bonds will be <br />considered, and the city reserves the right to reject any <br />and all bids and to waive any informality in any blP. <br /> <br />BY ORDER OF THE CITY COUNCIL <br /> <br />/s/ Margaret Egan <br />City Clerk-Treasurer <br /> <br />Dated: June 14, 1983. <br /> <br />- 5 - <br />