Los Angeles herald., 1908-07-12
MUNICIPAL AfFAIRS|RIIEs = ]

SEsz@ssslltt@4sJ
right and option to take and purchase
an additional $2,856,000 of said bonds,
bearing interest at the rate of Az per
cent per annum, payable mi-annually,
as the same are issued by the city, upon
the following terms, to wit: At the
price Of par and one-quarter of one
per cent, plus accrued interest to date
of delivery, to be paid for as delivered,
which shall be as follows:
Delivery In 1909
-Four hundred and eight thousand
dollars Of said bonds ON June 1, 1909,
and $4,000 of said bonds every sixty
days thereafter, If required by the city
and forty days notice of same be given
us, until the whole of said $2,S56,000
bonds shall have been delivered with
the privilege to US to require such
earlier deliveries, not prior to February
l, 1909, as we may elect.
ALSO the right and option to take
and purchase a further and additional
$4,S96,000 of said bonds, bearing inter-
est at the rate of 415 per cent per an
mum, payable semi-annually, as the
same are issued by the city, upon the
following terms, to wit: At the price
of par and one-half of one per cent,
plus accrued interest to date of de-
livery, to be paid for as delivered,
which shall be as follows:
Eight hundred and sixteen thousand
dollars of said bonds on February l,
1910, and a like amount every sixty
days thereafter, If required by the city
and forty days notice of same be
given us, until the whole of said
| $4,896,000 bonds shall have been de-
livered, with the privilege to us to re-
| rt4rfr o.l{S \
/ to February 1, 1910, as we may elect.
ALSO the right and option to take
and purchase a further and additional
$4,S96,000 of said bonds bearing inter
est at the rate of ~ per cent per an
mum, payable semi annually, as the
same are issued by the city upon the
| following terms, to wit: At the price
of par and one-half Of one per cent,
plus accrued interest to date of de-
| livery, to be paid for as delivered,
which shall be as follows:
Eight hundred and sixteen thousand
dollars of said bonds on February l,
1911, and like amount every sixty
days thereafter If required by the city
and forty days lotice of same be
given us, until the whole of said $4,S96,-
600 bonds shall have been delivered,
with the privilege to us to require such
earlier deliveries, not prior to February
1, 1911, as we may elect.
Want All Remainder
after all the said bonds have been
issued and paid for as above we are
to have the further right and option
to purchase all of the remainder Of the
bonds now unSold of the authorized
issue of $2S,000,000 bearing interest at
the rate of Az per cent per annum
payable semi-annually, as the same are
issued by the city, upon the following
terms, to wit: AT the price of par and
one per cent, plus accrued interest to
date Of delivery, to be paid for as de-
livered, which shall be as follows:
Eight hundred and sixteen thousand
dollars of said bonds on February 1,
1912, and like amount every sixty
days thereafter, If required by the city
and forty days notice of same be given
us, until the whole of the said remain
der of the said $23,000,000 issue of
bonds shall have been delivered with
the privilege to us to require such ear
lier deliveries, not prior to February 1,
1917, as we may elect.
1.-THE city agrees to issue bonds of a
less denomination than $1,000, but not
less than $780, if we so require, any
additional expense over and above the
expense of engraving the bonds of
| $1,000 denomination to be borne by u.s.
1.-THE bonds embraced in any deliv-
cry provided for herein shall be bonds
maturing in equal annual installments,
beginning December /, 1914, and ending
December 1, 1947.
"The principal and interest of said
bonds shall be payable at the city
treasury of the city of Los Angeles or
at the banking house of Kountze
Brothers in the city Of New York. at
the option of the holder.
I'm the event that any right or
option to take and purchase bonds,
oiUon hU fha nffU G aforesaid chaI1
not be exercised by us as, provided
herein, or If exercised shall not be
complied with, any and all of the said
rights and options herein given shall
thereupon ipso facto cease at the cleo
ton of the city of Los Angeles.
in the event that the city is unable
to deliver any or all of the bonds sold
or optioned hereunder on the date or
dates herein snecified we are to have
the privilege of extending the dates
at which such bonds may be deliv-
cred, or of canceling this contract as
we may elect.
''All deliveries of bonds shall be at
the banking house of Kountze Brothers
or A. B. Leach & Co, in the city of
New York.
"All bonds shall be dated December
1, 1907, and of the denomination of
$1,000. except as above provided.
Each delivery of bonds shall be ac-
companied by the written opinion OF
Messrs. Dillon & Hubbard or such
successor of Dillon & Hubbard as we
shall specify, certifying that the bonds
so delivered, upon payment of the pur-
chase price therefor, as above provided,
will be the valid and binding obliga-
lions of the city of Los Angeles.
I'VE hand you cashiers check to the
order of the city treasurer Of Los An
geles as an evidence of good faith,
which check is to be held by you and
applied: $4,000 in part payment for the
$1.02O,000 bonds first to be delivered