KRS 107.100: Sale of bonds authorized by KRS 107.090 -- Sealed bids -- Advertisement.

After the third ordinance has been adopted (and without regard for its date of

publication), the city may solicit the submission of bids or proposals for the purchasing of

the bonds authorized by the third ordinance, the same to be received upon a sealed

competitive basis after advertisement by publication pursuant to KRS Chapter 424. Such

bids or proposals may be solicited on the basis of competition as to price and/or interest

coupon rates, as may be specified in the published notice, and bids offering le ss than the

par or face value of the bonds may be considered and accepted if so stated in the

published notice of the sale. If no bids are received upon terms acceptable to the

governing body and conforming to the published notice, bids may again be solici ted by

similar published notice, until a purchase bid is received upon terms acceptable to the

governing body, but the bonds, or a portion thereof, may be awarded to a contractor, or

contractors, as provided in KRS 107.200.