The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1924-05-31
NOTICE OF ROND SALE
NOTICE OF BOND SALE
DEPARTMENT OF FINANCE. OFFICE OF
THE CITY CONTROLLER, CITY HALL,
INDIANAPOLIS. IND.
NOTICE TO BIDDERS


THE CITY CONTROLLER. CITY HALL,
INDIANAPOLIS. IND.
NOTICE TO BIDDERS
Notice IS hereby given that in pursTI-
ance to the provision of General Ordinances /
No. 80, 1924 of the Common Council of
the City of Indianapolis State of Indiana, 4
and approved by the Mayor on the Sd day
of May 1924 the undersigned City Con-
trouer OF the City of Indianapolis will re-
ceive sealed bids at the office of the City
Controller at the City Hall up to IL
O'Clock noon on Thursday. June IL. 1924,
for the sale of Two Hundred and Eighty
Thousand $3.50 100000 dollars of the
City Hospital Bonds of 1924. of the City
of Indianapolis, payable from the General
Fund or Sinking Fund of said City, or as
may be required by law said bonds being
two hundred eighty in number and in de-
nomination of One Thousand Il 900 OO}
dollars each, all bearing the date of July
1, 1924 Ten (1O) of said bonds shall
mature and be payable at the rate of Ten
Thousand $50. 00OOO) dollars in each
year for twenty-eight (2S) consecutive
years, beginning in the year 1926. and
ending in the year 1858. Said bonds shall
bear interest at the rate OF 81 per cent
per annum, payable semi annually on the
first day of January and the first day
Of July of each year for the period of
said bonds and said installment of inter
est shall be evidenced by interest cou-
pOns attached to said bonds. The first
coupons attached TO each bond shall be-
Tor the interest on said bond from the
date of issue until the first day of jan
uary. 1925. Said bonds and interest cou-
pons shall be negotiable and payable a.
Indianapolis The proposals or bids w
be opened by the city controller At his Of
fee on the 18th day of June, 1924, be-
tween the hours OF 12 o'clock a. m and
thereupon award said bonds. or if 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 postpone said award I'M
til a later date not beyond the 10Th day
of June, 1924. and also the right to reject
any and al bids and proposals or a part
thereof. and also the right to accept a
part Of any bid and to award upon any
bid the whole or any less number of
bonds covered by such bid, except only
that no bond shall be solds at less than par
and accrued interest. and said City Con-
troller shall further have the right in his
judgment and discretion to award said
bonds part to one bidder and a part to
another.
Each and every bid or proposal shall be 3
presented to the City Controller sealed and
shall be accompanied by a duly certified
check upon some responsible bank in the
City OF Indianapolis. Indiana, payable to
the order of the City Treasurer for the
sum of money which shall equal 2 Il 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 shall not be
accepted and the ershall be no award Of
bonds thereon, the certified check accom-
panying the same shall thereupon be re-
turned to such unsuccessful bidder or bid
ders. If there shall be awarded the whole
or any part of the bonds upon any bid or
proposal the certified check ACCOMMODATING
the same shall thereupon~ be delivered to
the City Treasurer. who shall thereupon
present the same for payment, and shall
be entitled to collect the same and hold tho
proceeds collected thereon until the COM
pletion of the purchase and payment for
the bonds SO ordered. and if for any rea-
son. said 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 thereon when collected shall!
be taken and deemed as agreed and liq-
Undated damages for such breach of con-
tract, and as the payment thereof TO the
city.
In case any successful bidder shall fsGN
to complete the purchase of bonds 80
ordered and to pay for the same withrTv
the time and manner herein required. or
which may be prescribed by the City Con-
trOller, the proceeds of sucn certified
check deposited by such BIDDER shall be
taken. considered and deemed as agreed
and iquidated damages for the breach of
such bidders contract of purchase and
shall be taken and deemed as the pay
ment for such damages and shall be re-
tanned and held by said City for its use.
However, If such successful bidder SHALL
complete the purchase OF said bonds
awarded to him, said proceeds of said GER
titled check shall thereupOn be returned
to such bidder at the option of the City
Controller at the time of the completion
of tie sale and payment for the bonds.
said proceeds of said certified check may
be applied and deemed a payment on &C.
count of the purchase of Said bonds
The delivery of any bonds sold shall be
made at the office of the City Treasurer. l.
of the City of Indianapolis. Indiana. not
later than the LIST day of July 1924, or
at such time or times as may be agreed
upon by the City Controller and the pur-
chaser or purchasers. Provided. how
ever. that the City Controller may extend
the time for such delivery not more than
ten (10) days after the day or days speci-
fed or agreed upon as above provided. and
the successful bidder or bidders shall take
the bonds awarded them and pay for the
same at such place and time, and any
neglect or omission so to do shall be q
breach of the bidders contract of Did
or proposal on account of which dam
ages shall be retained or recovered by the
City as hquidated as hereinbefore set out.
Said bonds and the interest coupons
shall be negotiable and payable at the of
flee of the City Treasurer of the City of
Indianapolis, Indiana. and shall be signed
by the Mayor and the City Controller, and
the bonds shall be attested by the City
Clerk.
JOSEPH b. HOGUE,
City Controller of the City of Indianapolis.
May 81 June z 1924