The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1924-08-20
80 LEGAL NOTICES
NOTICE OF SALE OF BONDS OF THE
CITY OF INDIANAPObkS. INDIANA

NOTICE OF SALE OF BONDS OF THE
CITY OF INDIANAPOb&S, INDIANA
Notice Is hereby given that sealed bids
will be received by the City Controller IN
the city OF Indianapolis until II clock
noon, on the 18th day of September. 1924
for the whole or any part of the nine hun.
bred thousand (S90O 100000 dollars OF
bonds of the city Of Indianapolis. IND,
which said bonds are designated as
Flood Prevention Bonds of 1924. and
will be dated the 10th day Of September;
1924. Said bonds will be nine hundred
5000 in number and will be for one thau-
sand Isl 600 .00) dollars each with inter
est coupons attached. Said bonds VIII
bear interest at the rate of four and one
half a p per cent per annum, payable
semi-annually on the first day OF January
and the first day of July of each year OF
the period of said bonds, and said install
ments OF interest shall be evidenced by IN
terest coupons attached to said bonds. The
first coupon on each bond will become due
and payable on the first day of July. 1928,
and will be for interest on such bond from
the day of issue to said date. Said bonds
will be issued in thirty 500 series of thir-
ty thousand $40 100000 dollars each. the
first series will mature on the LIST day OF
July. 1926, and one ID series OF said
bonds on the first day of July thereafter.
to and including July l. 1896. Both prln-
cpal and interest are payable at the
office of the City Treasurer of the city OF
indianapolis. Ind and constitute an obl-
cation of the city OF indianapolis.
Bids or proposals for the purchase Of
said bonds shall be Endorsed Bids for
Flood Prevention Bonds of 1924" and di-
rected to the City Controller. Indianapolis,
Ind Bidders may bid for all or any part
OF said bonds.
The proposals on bids will be opened by
the City Controller at his office on the
10th day of September. 1924, between the
hours of II clock. noon and o'clock
p. m. and said City Controller shall there
upon award said bonds or if he shall see
fit. part thereof to the highest and best
bidder therefor provided that said Con-
troller shall have the right to postpone
said award until a later date not beyond
vided also that said City Controller shall
have the right to reject any or all bids or
have the right to accept any part Of any
bid. and to award upon any bid the whole
or any less number OF bonds covered -py
said bid excepting only that no bonds
shall be sold for less than par and accrued
interest and said City Controller shall
further have the right in his judgment and
discretion TO award a part OF said bonds
TO one bidder and a part to another.
Each and every bid or proposal shall be
accompanied by a certified check upon
some responsible bank Of the city Of In.
dianapolis. Ind. payable to the order OF
the City Treasurer for sum OF money
equal to two and One-half - u per cent
OF the face or par value OF the BONDS olO
for or proposed to be purchased; and IN
case any bid or proposal shall not be ac.
cepted and there shall be no award OF
bonds thereon. the certified checks accom-
panying the same shall thereupon be re-
turned TO such successful bidder or bidders.
IL there shall be awarded the whole or any
part Of the bonds upon any bid or proposal
the certified check accompanying 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 the proceeds col
lected thereon until the completion OF the
purchase and payment of the bonds so
aw arded. and If for any reason said check
shall not be paid upon presentation. the
city shall retain said check and shall have
the right ~ collect the same for its own
use. and said check and proceeds thereof
when collected shall be taken and deemed
as agreed and hquldated damages for 3uch
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 or
which may be prescribed by the City Con
trOller, the proceeds OF such certified check
deposited by such bidder shall be taken.
considered and deemed as agreed and Hqul-
dated damages for the breach Of such bid
ders contract OF purchase, and snail be
taken and deemed as a payment 10 the city
for such damages. and shall be retained
and held by such city for its use. how
ever, II such successful bidder shall COM
plete the purchase Of said bonds awarded
TO him. sac proceeds Of said certified
check shall .hereupon be returned 10 such
bidder or at the option of the City Con-
trOller at the time of the completion OF
the sale and payment for the bonds. said
proceeds Of said certified check may be ap-
piled and deemed a payment on account OF
the purchase Of said bonds.
The. bonds awarded viii be delivered al
the Office OF the City Treasurer Of IndI-
annapolis Ind. on the 10Th day 49, Septem-
Der 1924 or al such time or times as may
on the day bids are opened and award Is
made. be agreed upon all such deliveries
! however. to De made within thirty 800
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
az such place and time and any omission
neglect or refusal so to 90. shall be breach
OF the bidder 5 contract OF bid or proposal.
on account OF which damages shall be re-
tanned or. recovered by the city as hQui-
dated 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. providing for the construction
Of works for flood prevention. providing
for the levylng OF assessments and taxes,
and the sale Of bonds for the purpose of
powers to Boards Of Public Works con
corning streams III cities of more than one
hundred thousand 100000 population.
ana hNlng the portion OF the cost theTeoI
to he paid by incorporated towns located
within such cities. and by counties In
which such cities are located. and declaring
said Act being Chapter "a of the Acts Of
the General Assembly of the State Of In
diana for the year 1915. being found on
page 143 OF said acts. approved March g.
1918. and acts amendatory thereof and
supplemental thereto, and pursuant TO
resolution of the Board of Public Works
of the City of Indianapolis. Ind and an
ordinance of the Common Council of the
city of Indianapolis. Ind. passed on the
4th day of August, 1924 directing the IN
dersigned to issue and sell said bonds for
the purpose herein set out.
JOSEPH l.. HOGUE.
City Controller OF the City of Indianapolis
Aug. 90. -.
NOTICE
State of Indiana Marion County ss in
the Superior Court of Marion County in
the State of Indiana