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<br />If the City Representative determines that it is in the best interests of the City to sell the <br />Bonds in a negotiated sale, then the City Representative is hereby authorized to enter a bond <br />purchase agreement or bond purchase agreements with an underwriter or group of underwriters <br />with demonstrated experience in underwriting municipal securities to be selected by the City <br />Representative. <br />The City Representative is authorized and directed to approve such optional or mandatory <br />redemption provisions for the Bonds as such officer or officers may determine to be in the best <br />interest of the City. <br />Notwithstanding anything to the contrary herein, by 5 :00 p.m. on the date prior to the sale <br />date of the Bonds identified in the official notice of sale for the Bonds, if either no underwriter or <br />only one underwriter has advised of its intention to bid on any series of the Bonds, the City <br />Representative, after consultation with the City's financial advisor and the City's bond counsel, is <br />authorized to remove such series of Bonds from the bidding process and to pursue a negotiated <br />sale for such series of Bonds. <br />The approval of the final terms and conditions of the Bonds subject to the foregoing <br />parameters shall be evidenced conclusively by the execution and delivery of the Bonds in <br />accordance with paragraph 8 of this Ordinance. <br />5. Form of Bonds. The Bonds shall be in substantially the form presented at this <br />meeting, with such appropriate variations, omissions and insertions as are permitted or required <br />by this Ordinance. There may be endorsed on the Bonds such legend or text as may be necessary <br />or appropriate to conform to any applicable rules and regulations of any governmental authority <br />or any usage or requirement of law with respect thereto. <br /> -4- <br />