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The City Representative shall determine the manner in which the Bonds are offered for <br />sale. If the City Representative determines that it is in the best interest of the City to sell any <br />Bonds in a competitive sale, then the City Representative is hereby authorized and directed to <br />accept a qualifying bid or qualifying bids for the purchase of the Bonds that results in the lowest <br />"true" interest cost to the City, and the Bonds shall bear interest, payable semi - annually, at such <br />rate or rates and shall be sold at such price or prices as may be set forth in the bid(s) accepted by <br />the City Representative. <br />If the City Representative determines that it is in the best interest of the City to sell any <br />Bonds in a negotiated sale, then the City Representative is hereby authorized to enter into 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 />If the City Representative determines that it is in the best interest of the City to sell any <br />Bonds in a direct purchase, then the City Representative is hereby authorized to enter into any and <br />all purchase documents related to the direct purchase and to select the purchaser after consultation <br />with the City's financial advisor. If any Bonds are sold by direct purchase, such Bonds shall be <br />registered in the name of the purchasers thereof, or, if the City Representative approves of such <br />designee, a designee selected by the purchaser, and such Bond may be delivered to the registered <br />owner. <br />The City Representative is hereby authorized and directed to approve such optional or <br />mandatory redemption provisions for the Bonds as the City Representative determines to be in the <br />best 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 any Bonds identified in an 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 same form as Exhibit A <br />attached hereto, with such appropriate variations, omissions, and insertions as are permitted or <br />required by this Ordinance. There may be endorsed on the Bonds such legend or text as may be <br />necessary or appropriate to conform to any applicable rules and regulations of any governmental <br />authority or any usage or requirement of law with respect thereto. <br />6. Book-Entry-Only Form. The Bonds sold to the public shall be issued in book - <br />entry-only form. The Bonds shall be issued in fully- registered form and registered in the name of <br />Cede & Co., as nominee of The Depository Trust Company, New York, New York ( "DTC ") as <br />