The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1920-11-30
LIONS SEEK WAY TO GET ACTION
ON PARK BONDS VOTED AND SOLD
BUT TURNED DOWN BY PURCHASER


which has tied up plans for estab
fishing parks in Chickasha for many
months following the voting of bonds
to the amount of 100000 more than
a, year ago?
The Lions Club, promoters of the
park program, want to know the
answer to this question and at their
meeting yesterday the matter was
thoroughly discussed. Reviewing the
status of the proposition, Agler Mel
ton made the following statement:
"The park bonds were voted, is
sued and sold to ! bond purchaser
at par and a premium of about
81 100000. The purchaser agreed to
pay for the bonds 30 days after they
had been approved by the Attorney
General. The bonds were approved
by the Attorney General and de.
livered to the Security National
Bank at Oklahoma City for delivery
to the purchaser when paid for The
purchaser gave his check for $2,-
10000, part payment on the bonds
"The bond market went down. the
purchaser declined to take up and
pay for the bonds. Some negotiations
were had with reference to the mat
ter in the summer. The mayor con
suited myself and Mr. Carmichael
with reference to the best course to
pursue.
"After some investigation and a
consultation with the purchaser he
declined to take up and pay for the
bonds. We advised that suit
against the purchaser for the amount
which he agreed to pay for the
bonds would be advisable as it would
be perhaps two or three years in
litigation. keep the bonds tied up
and delay the improvements which
the people expected when they voted
the hoads. In the meantime the bond
market kept going down.
1--WE were of the opinion that the
bonds might be sold at the best
price obtainable on the purchasers
contract and the amount obtained
for the bonds credited on his pur-
chase price and suit filed against
him for the balance. A proposition
was made to purchase the bonds
which we believe would be to the
best interests, but owning to fnan-
cial conditions, the people making
the offer were unable to secure
money with which to pay for them
"Under the circumstances, we
have advised that the citizens OF
Chickasha interested in the matter
endeavor to find some market for
the bonds so that they can be sold
and the Improvements made. We be-
lieve the situation is such that the
people of Chickasha who are inter-
CSlSu III SeclH6 inc pIOpOSeu alH
provements made should endeavor to
work out some plan whereby the
bonds can be disposed of to the best
advantage and the parks and i'm
provements made as contemplated by
the vote authorizing the issue of tn
bonds"
Various plans for disposing of the
park bonds were suggested. Several
members Of the club expressing the
opinion that the problem which con
fronts the community can be solved
On motion of Mr. Melton, Grin Ash
ton, president of the club appointed
a committee to meet with the mem
bers of the park board and city of
ficials, with a view to reaching
decision regarding the several plans
proposed This committee consists
of F. r. Chandler, Harmon Ellis and
Fred NJ. Frey A meeting of the com
nittee was held Immediately after
the adjournment of the club and it
is understood that prompt action
will be taken looking to financial
adjustment of the difficulties.