Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1922-05-15

LEGAL NOTICE.
seseeeN~se~~s~~.>e~~ Observation-Disclosures
NOTICE OF BOND SALE.
Department Of Finance, Office of the City
Controller. City Hall, Indianapolis In
diana, May 70. 1922.
Notice to Bidders.
Notice IL hereby given that in pursuance
OF the provisions OF General Ordinance
NO. eb, 1921, of the Common Council OF
the City Of Indianapolis State of Indiana,
passed on the 9Th day Of September, 1921,
and approved by the Mayor September IA,
1921. and General Ordinance No. "a. 1922.
amendatory thereto. passed on the 18th
Mayor on the goth day OF April 1922, the
undersigned City Controller Of the City Of
Indianapolis will receive sealed bids at
the office Of the City Controller at the City
Hall up to twelve o'clock noon on Monday.
May 20. 1922. for Thirty-six Thousand Five
Hundred t$3s,5000o) Dollars of the City
Streets and Public Highway bonds of 1922,
OF the City Of Indianapolis, payable from
being seventy-three t7s) in number and
In denomination OF Five Hundred (s5oe.00)
Dollars each. bearing date Of May 20,
1922 and to be issued In Ten t1o) Series.
ana the first series shall mature on the
lst day OF January, 1924. and one ID
series shall mature the LIST day of jan
uary OF each year thereafter to and In
GLIDING the lst day Of January. 1888. as
The nrst Series shall be for nine ts)
bonds Of Five Hundred t$50e.o0) Dollars
each.
The second series shall be for eight ts)
bonds OF Five Hundred ($5o0.o0) Dollars
each.
The remaining bonds shall be issued in
eight (s) equal series of seven 20 bonds
81 Five Hundred t$50o.00) Dollars each.
All bearing interest at the rate OF five
$500 per cent per annun. payable semi
annually on the LIST day of July and jan
uary. respectively. of each year, evidenced
hxrf NrtA
and the FIRST coupon attached to each of
said bonds for the interest on said bonds
from date Of issue until the Ist day of
July. 1922 will be due and payable at
that time and said bonds with coupons
attached are to be delivered and paid for
at the office OF the Treasurer of the City
Of Indianapolis.
The proposals will be opened by the
City Controller at his office the 29th
day Of May. 1922. between the hours of
twelve O'clock noon and two o'clock p. m.
and said City Controller shall thereupon
award said bonds, or II he shall see fit. a
part or any number thereof to the highest
and best bidder therefor. but said City
Controller shall have the right to post
pone said award until later date not
beyond the 3rd day OF June. 1922, and
also the right to reject any and all bids
and proposals. or any part thereof and
also the right to accept part Of any
bid and to award upon any bid the whole
or less number Of bonds covered by such
bid. except only that no bond shall be
sold at less than par and any accrued
interest and said City Controller shall fur
Their have the right in hts Judgment and
discretion to award said bonds. part to
one bidder and q part to another.
Each and every bid and proposal shall
be presented to the City Controller sealed.
and shall be accompanied by duly certi-
ned check upon some responsible bank In
the City OF Indianapolis. Indiana. payable
to the order OF the City Treasurer, for a
sum Of money which shall equal two and
one-half (21bGo) per cent Of the face or
par value OF bonds bid for or proposed to
be purchased, and in case any bid or pro-
posal shall not be accepted and there shall
be award OF bonds thereon. the certi-
fed check accompanying the. same shall
thereupon be returned to such unsuccess-
full bidder or bidders If there shall be
awarded the whole or any part of the
bonds upon any bid or proposal the certi-
fed check accompanying the same shall
thereupon be delivered to the City Treas
urer. who shall thereupon present the
same for payment, and shall be entitled
to collect the same and hold the proceeds
collected thereon until tho completion OF
the purchase and payment for the bonds
SO awarded. and II for any reason aaid
check shall not be paid upon presentation.
the city shall retain said check and shall
have the right to collect the same for its
own use and said check and proceeds
thereof when collected shall be taken and
deemed as agreed and liquidated damages
for such breach OF contract. and as a
In case any successful bidder shall fail
to complete the purchase Of bonds SO
awarded and to pay for the same within
the time and manner herein required or
which may be prescribed by the City Con-
troiler. the proceeds Of such certified check
deposited by such bidder shall be taken.
considered and deemed as agreed and liqut-
dated damages for the breach OF such bid
ders contract OF purchase and shall be
taken and deemed as payment to the
city for such damages, and shall be re-
tanned and held by said city for Its use.
However II such successful bidder shall
complete tho purchase of said bonds
awarded to him, said proceeds of said
certified check shall thereupon be returned
to such bidder, or at the option of the
City Controller at the time of the COM
pletion OF the sale and payment for the
bonds, said proceeds of said certified check
may be applied and deemed payment on
account Of the purchase OF said bonds.
Delivery of any bonds sold shall be
made at the office of the City Treasurer
OF the City OF Indianapolis. Indiana, not
later than tho srd day Of June 1922, or at
such time or times as may be agreed upon
by the Controller and the purchaser or
purchasers. Provided. however. that the
City Controller may extend the time for
such delivery not moro than ten 10) days
after the day or days specified or agreed
upon as above provided. and the success
full bidder or bidders shall take the bonds
awarded to him or them and pay for the
same at such place and time, and any
neglect or omission TO 90 SO, sHail p3
breach of the bidders contract of bid or
proposal on account of which damages
shall be retained or recovered by the city
as Iiuuidated as herefnbefore set out.
Said bonds and the interest coupons
shall be negotiable and payable at the In
diana Trust Company. Indianapolis, In
diana, and shall be signed by The Mayor,
City Controller and attested by the City
Clerk.
JOSEPH L. HOGUE.
City Controller OF the City Of Indianapolis.
Indiana.