(a) Newspapers Generally. In the event that there is more than one newspaper of general circulation published and circulated in the City, the City Council annually, prior to the beginning of each fiscal year, shall publish a notice inviting bids and contract for the publication of all legal notices or other matter required to be published in a newspaper of general circulation published and circulated in said City, during the ensuing fiscal year. In the event there is only one newspaper of general circulation published in the City, then the City Council shall have the power to contract with such newspaper for the printing and publishing of such legal notices without being required to advertise for bids therefor. The newspaper with which any such contract is made shall be designated the official newspaper for the publication of such notices or other matter for the period of such contract.
(b) Rates. In no case shall the contract prices for such publication exceed the customary rates charged by such newspaper for the publication of legal notices of a private character.
(c) Posting. In the event there is no newspaper of general circulation published and circulated in the City, then all legal notices or other matter may be published by posting copies thereof in at least three public places in the City.
(d) Defects. No defect or irregularity in proceedings taken under this section, or failure to designate an official newspaper shall invalidate any publication where the same is otherwise in conformity with the Charter or law or ordinance.