107.100 Sale of bonds authorized by KRS 107.090 -- Sealed bids -- Advertisement.
After the third ordinance has been adopted (and without regard for its date of <br>publication), the city may solicit the submission of bids or proposals for the purchasing of <br>the bonds authorized by the third ordinance, the same to be received upon a sealed <br>competitive basis after advertisement by publication pursuant to KRS Chapter 424. Such <br>bids or proposals may be solicited on the basis of competition as to price and/or interest <br>coupon rates, as may be specified in the published notice, and bids offering less than the <br>par or face value of the bonds may be considered and accepted if so stated in the <br>published notice of the sale. If no bids are received upon terms acceptable to the <br>governing body and conforming to the published notice, bids may again be solicited by <br>similar published notice, until a purchase bid is received upon terms acceptable to the <br>governing body, but the bonds, or a portion thereof, may be awarded to a contractor, or <br>contractors, as provided in KRS 107.200.
History: Amended 1966 Ky. Acts ch. 239, sec 122. -- Created 1956 Ky. Acts ch. 239,
sec. 10.
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