The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-02-04

NOTICE OF THE SALE OF BONDS OF
THE CITY OF INDIANAPOLIS. IND.
Notice is hereby given that sealed bids
wlll be received by the City Controller IN
the City of Indianapolis until Il o'clock,
noon, on the 9th day of March. 1925. for
the whole or any part of the One Hun
dred Ten Thousand (S110. 000.00) Dollars
OF bonds of the City of Indianapolis. Indi-
ana, which said bonds are designated as
Municipal Garage Bonds of 1925, and
VIII be dated the 9th day of March, 1925.
110l in number and will be for One
Thousand Isl 100000 Dollars each with
interest," int coupons attached. SAID bonds
will bear interest at the rate of four and
one-half a u per- cent per annum. pay
able 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 1nstallments of interest shall be
evidenced by interest coupons attached to
bond will become due and payable on the
hrst day of July. 1926, and viii be for
interest OF. said bonds from the day of
lssueSto said date. Said bonds will be is
sued in eleven CID series of Ten Thou
sand oslo. 100000 Dollars each. the first
series viii mature on the LIST day of Jan
uary. 1927, and one series of said bonds
on the LIST day of January thereafter to
and including January LIST 1887. Both
office of the City Treasurer OF the City of
indianapolis. Indiana and constitute an
obligation of the City of Indianapolis.
Bids or proposals for the purchase of
nlclpal Garage Bonds of 1925" and di-
rected to the City Controller Indianapolis .
INDIANA Bidders may bid for all or any,
part of said bonds.
The proposals or bids will be opened ~
the City Controller at his office on the
9th day. of March 1925. between the
oIps on 9nd - S.id 9e aita noon and 2, O'Clock
upon award said bonds or if he shall see
NJ; part thereof to the highest and best
pldder therefor. provided that said Con-
tn cfTafNFao
SAID award until later date not beyond
the fifteenth (15th) day of March. 1925,
troller shall have the right to reject any
or all bids or proposals. or any part there
81, and shall 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 by said bid. excepting only that
no bonds shall be sold for less than par
troller shall further have the right in his
judgment and discretion to award part
OF sad bonds to one bidder and part to
Each and every bid or proposal shall
be accompanied by certified check upon
some responsible bank of the City of Indi-
aInapoiis, Indiana, payable to the order of
tne CITY Treasurer. for sum of money
equal to two and one-half (21a) per cent
o. the face or par value of the bonds bid
Tor or proposed to be purchased; and in
case any bid or proposal shall not be &C.
copied and there shall be no award of
bonds thereon, the certified checks accom-
turned to such bidder or bidders If there
shall be awarded the whole or any part of
the bonds upon any bid or proposal the
certified check accompanying the same
snail thereupon be delivered to the City
Treasurer who shall thereupon present the
same 1or payment and shall be entitled to
collected thereon until the completion of
tEe purchase and payment Of the bonds so
awarded, and II for 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 for its own
when collected shall be taken and deemed
as agreed and liquidated damages for such
breech. Of contract. and as payment
In case any successful bidder shall fail
to complete the purchase of bonds so
the time and manner herein required or
which may be prescribed by the City Con-
troller. the proceeds of such certife6m
chaclx deposited by such bidder shall d
taken. considered and deemed as agree
and HQuidated damages for the breach of
such bidders contract of purchase and
TO the city for such damages. and shall
be retained and held by such city for its
use, However. If such successful bidder
bonds awarded to him said proceeds of
said certified check shall thereupon be re-
turned to such bidder or at the option OF
completion of the sale and payment for
the bonds, said proceeds of said certified
ment on account of the purchase of said
bonds
The bonds awarded will be delivered at
the office of the City Treasurer of Indian
apolis, Indiana, on the 9th day of March
1925, or at such time or times as may
on the day bids are opened and award is
made be agreed upon: all such deliveries
however, to b. made within thirty (301 !
days from the date Of such award, and the
successful bidder or bidders shall take and
pay for the ponds awarded to him or them
at such place and time and any omission
neglect or refusal 50 to do. shall be
breach of the bidders contract of bid or
proposal. on account of which damages
shall be retained or recovered by the city
as hquidated as heretofore set out
Said bonds lSre 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
porat1ons. approved March 9th. 1905.
and all acts amendtary thereof and
supplemental thereto
and pursuant to Resolution No. 272 OF
OF indianapolis Indiana. and to an ordi-
nance Of the Common Council Of the City
of Indianapolis Indiana. passed on the
End day OF February 1925. 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
Feb. 4, IL 1925.