The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-26
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FOR THE 90 -
PURCHASE Oh: .:.:BONOS.

Notice is hereby given that the com
mon council of the city OF Duluth, Min
| nesota. will meet at the. councn chamber
In the city hall, in said city of Duluth, at
7:SO o'clock in the evening Of Monday,
the 18th day of June, A. D: 1899. to re-
ceive and examine sealed proposals for
bonds of the city of Duluth to the ag-
gregate amount Of five hundred thousand
| (50O,00O) dollars, in denominations Of
81 100000. $4,000, $4,000 and 5000 Except
made they shall be in denomination of
| $1,0O0OO with proper interest bearing
coupons attached thereto, principal pay
able fifteen. q5) years from May !, 1899.
| interest at four and one-half per cent per
annum, payable semi annually on May !
and November l of each year. Principal
| United States at the American: Exchange
National Bank in the city Of New York.
| Said bonds TO he: paid for within ten Q0)
| days after notice that the same are re ady
| for delivery, said delivery and payment
| to be, made at thesF First. National Bank
i of Duluth, Minnesota, or the AMERICAN
/ The sale of said bonds VIII be award
| ed to the highest responsible bidder at a
| sum not less than par value thereof, and
/ interest accrued ito date of delivery. Such
actual residents of the cityssof Dulath
shall be preferred in case Of bids: other
wise equal and any person, including any
| may bid on9 one gors more Of said bonds,
All bids for said bonds shall be without
condition or qualifications. excepting oniyT'
that the city of Duluth shall furnish the
written opinion of Dillon & Hubbard, Els
CURES, of the city of New York, or of
some attorneys of similar note, that the
same are a valid and a legal obligation of
| the city of Duluth.
Each bidder is required to file with the
city clerk prior to o'clock of said day
postt of a national bank, payable to the
order of the city of. Duluth. without con-
dition, for an amount equal to one %
per cent of the full face value of bonds
to be bid for, or a good and sufficient
bond in the said sum to be approved by
the common council Of said city and con-
ditioned that the party making said b d
will, if awarded the sale, take: the bonds
and pay for them according to the terms
of said bid and this ordinance; and that
In case Of failure SO to do. the city of
Duluth shall have the right. to sue upon
said bond and to recover the full face
thereof, which shall be and in said bond
shall be stated as being the sum agreed
upon as liquidated damages in case of a
breach thereof. And condition of said
bond shall be that the principal and sure
ties thereon expressly waive all question
| manner affecting the issue.sofl said bonds
or as to the title of the property upon
which said bonds shall be a lien, the in
tention of the bond being to provide for
absolutely without any condition or de-
tense thereto, If payment shall be re-
quired and if favorable, opinion of Dillon
& Hubbard, or other attorneys of similar
| note, as aforesaid, shall be furnished.
Said checks and bonds shall fat 2 o'clock
of said day be submitted by the city
clerk to the city attorney for his opinion
as to whether said checks and bonds con-
form to the conditions of this ordinance,
and the bid of any person whose check
or bond the city attorney shall deem to
not be in legal form, according to the
terms of this ordinance shall not be re-
ceived unless such bidder shall have such
check or bond corrected to meet the re-
quirements of the city attorney or de-
posit new bond or check duly approx
ed by said attorney before 1880 O'clock p.
m. of said day.
In all cases of bids received and not
accepted, the check or certificate receive
ed herewith shall thereupon be returned
| In case said bonds are awarded to any
bidder and the said bidder refuses to ac-
cept and pay for said bonds, or any part
thereof, within ten Q0) days after notice
delivery, said delivery to be made at the
| First National Bank of Duluth, Mime
sofa, or the American Exchange National
Bank of New York., the said amount Of
| the certificate of deposit or check so fur
| nished to the city shall be retained by
| the city of Duluth as it's own, as and for
| liquidated damages for breach of the con-
| tract on the part of said bidder. In case
| any bidder furnishing such certificate of
deposit or check shall take the said
| bonds, said sum shall be credited to him
on account Of the payment thereof. Each
| bidder must give his address. rcity, street
| and number.
The right to reject any and all bids is
| to be reserved to the city Of Duluth.
| Dated Duluth. Mimi, May %, 1899
| corporate seal) City Clerk.