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Transcription
on additional debt payable from such revenues; said bonds shall be Issued under and pursuant to said resolution. Bidders are referred to said resolution for the terms and conditions of the covenants. Each bid must be for all of the bonds offered for sale and no bid for a portion only of the bonds will be considered. However, bidders may bid with delivery as follows: Alternative (l), for immediate delivery of the entire issue of $8,700,000; Alternative (2), for immediate delivery of a first installment in an amount fixed by the bidder but not less than $3,750,000 of said issue, the second installment to consist of the remainder of said issue which is to be delivered- and paid for upon notice given as hereinafter provided. Any bidder may submit a proposal under both Alternatives (l) and (2). If the bonds are awarded upon a bid made pursuant to Alternative (2), the amount of bonds in each maturity of the years 1957 to 1989, inclusive, to be delivered in the first installment shall be the nearest $5,000 principal of each such maturity, as determined by the following proportion: The amount of bonds to be delivered in the first installment from each maturity will be in the same proportion to the total amount of bonds in that maturity as the total amount of all bonds bid % 1 0 .
