the payment or redemption of the defeased Series 2018 Bonds to any lawful purposes of the System as it shall determine. Unless otherwise specified by the University in a refunding or defeasance plan, notice of refunding or defeasance shall be given, and selection of Series 2018 Bonds for any partial refunding or defeasance shall be conducted, in the manner prescribed in this Series Resolution for the redemption of Series 2018 Bonds. Section 13. Sale of Series 2018 Bonds. The Series 2018 Bonds shall be sold at public sale to the bidder offering to purchase the Series 2018 Bonds at the lowest true interest cost to the University at such price as shall be determined at the time of sale by the University on all the terms and conditions set out in the Official Notice of Sale. Bidders may aggregate the principal amounts of any maturities of the Series 2018 Bonds into one or more maturities of Term Bonds. Any Term Bond so designated must consist of the total principal payments for two or more consecutive years and mature in the latest of such years. The Treasurer is authorized and directed to (a) cause to be prepared an Official Notice of Sale of the Series 2018 Bonds and to publish that notice or an abridgment thereof in such publications at such times as he or she may deem desirable; (b) prepare and circulate a Preliminary Official Statement and bid form for the sale of the Series 2018 Bonds; (c) take such other actions to publicize or facilitate the sale as he or she may deem desirable or necessary, including securing a rating on the Series 2018 Bonds from one or more established rating agencies; and (d) determine and approve the aggregate principal amount of the Series 2018 Bonds to be issued hereunder in accordance with the limitations set forth in Section 4 of this Series Resolution.
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