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Revised Statutes, as amended, in each case at such price or prices and upon such terms and <br /> conditions as he shall approve and determine to be in he best interest of the County and the <br /> Department of Water Supply. Without limiting the generality of the foregoing, with respect to <br /> the sale of the Bonds or of portions of the Bonds, the Director of Finance is hereby authorized to <br /> retain bond counsel, paying agents, registrars and financial and accounting consultants, upon <br /> such terms and conditions as he shall deem advisable, to select the date for such sale, to publish <br /> and distribute a Notice of Sale or to enter into a contract for the sale of the Bonds or portions <br /> thereof, in each case in such form and containing such terms and conditions as he shall approve <br /> and deem advisable, to distribute an Official Statement and such other information relating to the <br /> County and the Bonds as he may deem advisable, to receive bids for the sale of the Bonds or the <br /> <br /> portion thereof being offered and to award the sale of the Bonds or the portion thereof being <br /> offered to the bidder offering the lowest interest cost therefor, in accordance with the applicable <br /> Notice of Sale, if any; provided that the Director of Finance may reserve the right to reject any <br /> and all bids. Subject to the provisions of Section 3 hereof, without further action of the Council, <br /> the Bonds shall bear interest at the rates per annum as specified in the contract or contracts <br /> approved or in the bid or bids accepted. The Director of Finance and all officials of the County <br /> are hereby authorized to take such action and execute such orders, receipts and other documents <br /> as may be necessary in order to effectuate the sale of the Bonds or any portion thereof, and, if <br /> any contract therefor be approved or any bid therefor be accepted, the preparation execution, and <br /> delivery thereof, in accordance with the provisions hereof and applicable law. <br /> Subsequent to the sale of any of the Bonds, the Director of Finance shall report the results <br /> of such sale to the Council by letter. <br /> From and after the date the Director of Finance shall have accepted a bid for a series of <br /> Bonds, or shall have entered into a contract for the sale and purchase of a series of Bonds, the <br /> Council will take no action to modify, supplement, amend or repeal the provisions of this <br /> ordinance in a manner which would have an adverse effect on the ability of the County to <br /> perform its obligations under such accepted bid or contract. <br /> -5- <br /> <br />