If no legal bid is received, pursuant to the notice of bond sale, such fact shall be reported to Council, which shall determine whether to readvertise or to sell at private sale. If it is determined to sell at private sale, the Director of Finance shall proceed to sell to the person who will pay the most for such bonds in accordance with the general laws of the State of Ohio, but in no event shall any bonds be sold for less than par and accrued interest to date of delivery.
(Ord. 53-1930. Passed 4-21-30.)