All bonds issued hereunder shall be advertised for sale on sealed bids, which advertisement shall be published at least once a week for three weeks, the first publication to be made at last fifteen days preceding the date fixed for the reception of bids. Publication shall be made in the official journal of the parish or of the municipal corporation.
The governing authority may reject any and all bids. If the bonds are not sold pursuant to the advertisement, they may be sold by the governing authority by private sale within sixty days after the date advertised for the reception of sealed bids at a price not less than the highest bid received at the public offering. If not so sold, the bonds shall be re-advertised in the manner herein prescribed.