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pay from the date of said bonds to the respective maturity <br />dates thereof at the coupon rate or rates specified in the <br />bid and the award will be made on the basis of the lowest <br />net interest cost to the city. The lowest net interest <br />cost shall be computed 'on a B60-day year basis. The <br />purchaser must pay accrued interest from the date of the <br />bonds to the date of delivery. The cost of printing the <br />bonds will be borne by the city. <br /> <br /> Right of Rejection: The city reserves the right, <br />in its discretion, to reject any and all bids and to the <br />extent not prohibited by law to waive any irregularity or <br />informality in any bid. <br /> <br /> Prompt Award: The city will take action award- <br />ing the bonds or rejecting all bids not later than twenty- <br />six hours after the time herein prescribed for the receipt <br />of proposals; provided, that the award may be made after <br />the expiration of the specified time if the bidder shall <br />not have given to the City Council notice in writing of <br />the withdrawal of such proposal. <br /> <br /> Place of Delivery: Delivery of said bonds will <br /> <br />be made to the successful bidder at Jeffries Banknote Company, <br />ll7 Winston Street, Los Angeles, California, or at any otaer place <br />agreeable to both the successful bidder and the City Treasurer. <br /> <br /> Prompt Delivery, Cancellation for Late Delivery: <br />It is expected that said bonds will be delivered to the <br />successful bidder within thirty days from the date of sale <br />thereof. The successful bidder shall have the right, at <br />his option, to cancel the contract of purchase if the <br /> <br /> <br />