On April 1, 1977 the County of Albany, pursuant to the provisions of the Local Finance Law, published a notice of sale inviting sealed bids for the purchase of $7,500,000 in County of Albany, Sewer District, General Obligation Bonds (Bonds). The notice of sale provided, inter alia, that as a condition precedent to the consideration of any bid, each bidder was to provide a deposit of $150,000 and that all bids would be publicly opened and announced on April 13, 1977...
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