Los Angeles herald., 1891-05-27
NOTICE.
SEQ, 600 Bonds of the City of Fresno for
Sale.

&6ta. 600 Bonds OF the CltY OF ETeSuO IOT
Sale.
NTOTICE is HEREBY GIVEN THAT 1T is
~ the intention of the board OF trustees OF
the city of Fresno and the president thereof, 70
offer the highest and best bidder bonds ot sald
city to the amount of $50 900, for the purpose OF
providing for the purchase of grounds and the
erection and furnishing building for school
purposes within said city.
Sealed bids for the purchase of the municipal
bonds, issued by the city of Fresno, Fresno
county, state of California under the act OF the
| legislature of said stateapprovedMarch ~, 1883,
| entitled "An act authorizing the incurring OF
| Indebtedness by cities towns and municipal cor
! porations, incorporated under the laws OF TINS
state, for the construction OF water works, sew
| ers and all necessary public Improvements, or
for any purpose whatever, and to repeal the act
| approved March 8, 1883, emitted, AN ACT 70
| auihaize municipal corporations OF the hfth
class containing more than three tnousand s anu
| water works. also, to repeal the act approved
| March is, 1897, entitled, An act authorizing
the incurring OF Indebtedness by clues. towns
and municipal corporations Incorporated un-
der the laws of this state, " Will be received by
the city clerk of said city on behalf of the board
of trustees, and the president thereof at ms Of
flee in the city hall of said city of Fresno, coun
ty of Fresno, state of California, from the ilrst
publication of this notice to the hour OF 7;3O p:
IN of the 18th day OF June, 1891, when said
bids will be opened and said bonds sold by said
board of trustees and the president thereof 70
the highest bidder, and thereafter for cash IN
United States gold coin to be paid for on the de-
1he sale will comprise 100 bonds, of the
| character known as serials, of munlcipal I'M
| proyement fund No. 3, said fund was estab-
| 1ished on the 18th day of May, 1881, by ordl-
nance of said city, entitled, "An ordinance pro
| viding for the issue and sale OF bonds OF the
| city of Fresno, for the payment OF the costs OF
| certain permanent municipal improvements IN
| said city, for the following purposes, to Wit;
| For the purchase of school grounds ana the
| erection and furnishing of building for school
| purposes ,000 in accordance with the re-
| suit of IL special election held in said city on
the 18th day Of April, 1891, pursuant to the
I provisions OF an act of the legislature of the
! state of California. approved. March 10,
| 1899, entitled, can act authorizing the
incurring OF indebtedness by cities, towns ,iS
under the laws of this state for the con
struction of water works, sewers and all neces-
sary public improvements, or Tor any purpose
March g. 1885, entitled, AN Act to authorize
municipal corporations OF the fifth class, con
tainlng more than three thousand and less
than ten thousand inhabitants to obtain water
worke ALSO to repeal an act approved March
| 15 1887, entitled, An Act authorizing the in
curing Of Indebtedness by cities, towns and
| municipal corporations, Incorporated under
| the laws of this State.
No less than one bond will be sold, and the
bidder must state the number of bonds bid for;
| and no bid will be considered at less than the
| face value of the bond bid for.
The board OF trustees of said city OF Fresno,
| and the president thereof, reserve the right to
| There will be issued 100 bonds OF the denom-
| ination of $500 each numbered respectively
! from number one to number one hundred, both
| inclusive, and so drawn as that One-twent1etn
part of the same shall be made payable each
wear, for twenty years, in the order of their date
and number, with interest on same at per
cent per annum, both principal and interest
payable annually at the office OF the city treas
! urer of said city.
THAT said bonds will be delivered in such
amounts at a time as the board OF trustees shall
| m In time determine provided that al
of said bonds shall be delivered on or before one
wear after the date thereof, and such delivery
| shall be made with rebate of any and all in
terest appearing to be due at the date thereof
The purchaser or purchasers OF said bonds
must give an undertaking of at least two suffi
cient sureties in the penal sum OF 10 per cen cent
Fresno. on the condition that said purchase
will take and pay for said bonds as. delivered
according to the terms OF notice OF said s.. SAL
and within thirty days after receiving writer
notice or readiness on the part OF said Board
Trustees and the president thereof to deiive
said bonds; or said purchaser may in lieu 0
said undertaking deposit a certified check o
draft payable to the President OF the Board
Trustees on demand.
failure to take and pay for bonds so bid TO
by the purchaser within thirty days afte
written notice OF readiness to del1ve
the same shall be a breach OF sal
undertaking., or forfeiture Of sal
check; and that the sum mentioned in SAT-
undertaking, or check, shall be held and con
sidered as liquidated damages, and that sal,
undertaking may be sued upon, or said checl
presented and collected Immediately in tn
name of said city, and the amount specifics
recovered or received, as asliquidated damages.
Deposit in the United States pOstofice at tn
City of Fresno, of notice of readiness to delive
bonds signed by the city clerk, with the seal o
said city affixed, and postage prepaid and ad
dressed and directed to the purchaser at hi
place of residence or business shall be deeme
and considered as notice to the purchaser 0
the contents of said notice from date of deposit
By order of the board of trustees of the Cit
of Fresno. W. B. DENNEIT, CITY CLERK;
Fresno, May 20, 1891. my22-20t