The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1923-10-04
NOTICE OF SALE OF PONDS OF THE
CITY Oh INDIANAPOLIS. IND.

NOTICE OF SALE OF BONDS OF THE
CITY Oh INDIANAPOLIS. IND.
Notice is hereby given that sealed bids
will be received BY the city controller of the
city OF Indianapolis. IND until twelve (12)
o 0a59ck noon on the 26th day OF October.
three hundred thousand $500 000 001 dol
,ars OF bonds Of the city Of indianapolis.
Ild. which said bouds are designated as
Street Resurfacing Bonds Of 1928" and
viii be dated Oct. 90 1923. Said bonds
win be three hundred in number and will be
with interest coupons attached
said bonds win bear interest at the rate
ag 3 p or the dag on Raya1S
ind July Of each year. The first coupon on
each bond will become due and payable on
The LIST day of July 1924 and viii be for
interest on such bond from the tiay of is
sue to said date. Said bonds will be issued
in five 80 equal series Of sixty tno1sand
will matur on the first day of July, 1924,
and one series on the first day of July
thereafter to aad including July L, 1928.
Both principal and interest are payable at
the City Trust Company of Indianapolis.
Ind, and constitute an obligation OF the city
of Indianapolis.
BIDS or proposals for the purchase of said
bonds shall be Endorsed Bids for Street Re-
surfacing Bonds of 1928" and directed to the
city controller, Indianapolis. Ind. Bidders
may bid for all or any part Of said bondf-.
The proposals on bids will he opened by
the city ccneToller at his cffice on the 10th
day Of October 1928 between the hours Of
twelve (l2) o'clock noon ana two ~
o'clock p. NJ and said city controller shall
thercEpon award said bonds if he shall
see tit, part thereof to the highest and
best bidder therefor. provided that said con-
uolIer shall have the right &c postpone said
award until later date not beyond the Lat
DAY OF November. 1923, and provided also
that said city controller shall have the right
to reject any or all bids or proposals. or any
part thereof, and shall have the right to
I accept part of any bid and to award upon
any bid the whole or any less number OF
bonds covered by said bid. excepting only
hot hon ,a "a for I, To.r4
and accrued interest, and said city controller
snail further have the light IN his Judgment
and discretion 10 award part Of said bonds
10 one bidder ana q part TO another.
Each and every Did or proposal shall Be
accompanied by certified chsck upon soma
responsible bank Of the city OF Indianapolis,
IND, payable 10 the order of the city treas
uTer, for sum OF money equal to two and
cne-hal1 t212 per cent of the face or par
Value Of the bonds bid for or proposed to be
purchased: and IN case any bid or proposal
snail not be accepted and there shall be no
award OF bo3ds thereon. the certified checks
accom- 1anyIng the same shau thereupon oe
returned to such unsuccessful bidder bid
ders if there shall be awarded the whole or
any part of the bonds upon any bid or pro-
posal the certified check accompanying the
same shall thereupon be delivered to tbs
city treasurer who shall thereupo1 present
the same for payment and shall be- entitled
10 collect the same and hold the proceeds col
Iected thereon until the completion of the
purchase and PAYMENT Of the bonds SO
awarded and if Tor any reason said check
shall not be paid upon presentation. the city
shall retain said check and shall have the
right to collect the same fol It's oEvn use.
and said check and proceeds hereof when
collected shall be taken and deemed as
agreed and hQuidated damages for such
breach OF contract and as payment there
of TO the city.
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 which may be
prescribed by the city controller, the pro-
ccedS of such certified check deposited by
shall taken
deemed as agreed and hquidated damages for
the breach of such bidders contract of pur-
chase, and shah be taken and deemed as
payment to the city for such damages. and
shall be retained and held by such city for
its use. However, if such successful bidder
snail complete the purchase OF said bonds
awarded to him, said proceeds of said GER
titled check shall thereupon be returned to
such bidder or at the option of the city
the sale and payment for the bonds. said
proceeds of said certified check may be APP
piled and deemed payment on account OF
the purchase of said bonds.
The bonds awarded viii be delivered at the
office OF the city treasurer of Indianapolis,
Ind, on the 26th day OF October. 1923. or
at such time or times as may on tho day
bids are opened and award is made. be agreed
upon; all such deliveries; however. to be
made within thirty t30) days from the date
of such award, and the successful bidder or
bidders shall take and pay for the bonds
awarded to him or them at such place and
time and any omission. neglect or refusal so
TO do, shall be breach of the bidder con-
tract OF bid or proposal on account OF
which damages shall be retained or recov-
cred by the city as hquidated as heretofore
set out.
Said bonds are offered for sale under and
by virtue of the provisions of an act of the
General Assembly of the State of Indiana
entitled An Act Concerning Municipal Cor
porat ions" approved March 8. 1905, and
acts arnendatory thereof and supplemental
thereto, including an act Of the General AS
sembiy of the State Of Indiana. approved
Feb. %, 1923. entitled AN act concerning
the resurfacirg and widening Of permanently
improved roadways in cities Of the first
class providing for the levying Of q special
tax for the payment of the same. providing
for the creation of a special fund and the
collecting aud disbursement of the same. and
for the Issuance of certain bonds of such
cities for the payment of such resurfacing
and widening during the year of 1928 and
declaring an emergency" and pursuant to
resolution of the board of public works of
the city of Indianapolis Ind. and an ordi-
nance of the common council of the city of
Indianapolis, Ind, passed on the 3rd day of
September, 1923, directing the undersigned
to issue and sell said bonds for the purpose
herein set out
JOSEPH L. HOGUE,
City Controller of the City Of
Indianapolis. Ind.
NOTICE TO COAL DEALERS