The notice shall state that sealed proposals will be received by the board of directors at the office of the drainage district for the purchase of the bonds until the day and hour named in the resolution. At the time appointed, the board shall open the proposals and award the purchase of the bonds to the highest responsible bidder or may reject all bids; thereafter, if all bids are rejected, the board may readvertise or sell said bonds at private sale.
Source: L. 23: p. 301, § 51. CSA: C. 57, § 177. CRS 53: § 47-12-51. C.R.S. 1963: § 47-12-51.