The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1935-04-08

said purchaser.
ID The fair cash value to be determined
/ BY the Court Of the interest Of the Pre-
said bid in the property of this receive
4 two-thirds Of the appraised value OF said
3 Any purchaser Of said property shall
ASSUME all unpaid municipal assessments
on said property and all current INSTALL
/ ments OF taxes on said property.
= All bids shall be accompanied by q
/ $500 Ool. which shall be held BY the
hs bid seeeped Tie ahs sndh S
Is rejected said sum shall be returned to
WILLIAM N. FLEMING. JR
Receiver of Wilson Building Company.
NOTICE
OF INDIANAPOLIS GAS PLANT REVENUE
/ BOND OFFERING.
| Notice is hereby given that the UNDER
/ dianapolis. Indiana, by authority Of the
Board of Directors for Utilities of the City
Of indianapolis. Indiana, viii on Thursday,
April IS. 1885, between the hours OF 10
a: NJ. and IL noon. at his office in the
! City Hall in said City. receive written
oils Gas Plant Revenue Bonds in the ag-
\ gregate principal amount of Eight Million
Dollars $4,000 OOOl. Such bids will be
]
/ bonds will then and there be sold 10 the
| highest bidder. being the maker of the
bid which will give the City the lowest in
| terest cost for the moneys so borrowed;
the right to reject any and all bids being
reserved. Each i!dder shall make de-
post of One Hundred Thousand Dollars
| $500 000) in the form of check certi-
fed by responsible bank or trust COM
pany located in the City of Indiana polls.
Illinois or Ohio, payable to the order OF
the City Controller Of the City of Indian
| apolis, Indiana such checks TO be returned
| TO those bidders whose checks are not &C
! cepted. In event a successful bidder fails
to perform the terms of his bid. the City
| shall retain the proceeds of his check as
liquidated damages: and by making de-
post of such check with the City Con-
troller the bidder shall be deemed to have
| agreed that the amount Of such hquidated
| damages is reasonable.
The proceeds of such bonds are to be
used for the taking over OF certain prop
erty owned by Citizens Gas Company OF
Indianapolis and/or in which 1t has an
/ interest, including the redemption or ex-
tinguishment OF its capital stock and or
lions and for the necessary expense in
CURED in connection Herewith. including
| the expense of the City incident to OBJ
| tanning such funds. as well as for the pur-
i pose of making certain betterments. i'm
proponents, extensions and additions to
Said bonds are to be payable solely from
/ the income and revenues Of such utility
and are not TO be an indebtedness of the
City payable out of taxes. Said bonds are
| to be issued in denominations OF One
Thousand Dollars each, and numbered
are registerable as to principal but not as
to interest. They are exempt from taxa
ton as b TO Pn96Pa ana income as pe
| of their principal and interest are secured
by a first charge upon all the net reve-
-nues from the operation Of all OF the gas
Said bonds are issued under the author
Ffxv - Ind tat
Chapter n of the Acts Of 1929. Chapter 81
of the Acts Of 1881. and Chapter 1875 of the
Acts OF 1888 as os sm ef lea BY SNAPPER y
bly, of the State of Indiana.
Said bonds are to become due at such
shall shall be specified BY the terms Of the &C
cepted bid: hut there shall be no bonds
maturing in less than three ~ nor more
than twenty t2o) years from the date OF
The interest rate upon said bonds is to
be that fixed by the terms, of the &C,
five and one-hah per cent per annum. and
shall be evidenced by coupons attached to
said bonds and payable semi-aInnually
] Said bonds are not to be sold at dis
copnt in excess of five per cent.
Both bonds and interest coupons are to
of Marion County, Indiana. ex officio
| Treasurer OF the City OF indianapolis, ana
or at such bank or trust company, =, or c6 o.
| cago. Illinois, or lyew York City. New York.
4 or elsewhere. may be agreed upon be-
tween said Board and the successful bid
Said bonds are to be dated as of such
| date as may be agreed upon between SAID
/ Board and the successful bidder. not IN
| consistent with law.
] Bids shall specify also either:
0l Serial maturities for said bonds over
| a period of twenty years. but no bonds TO
mature in less than three years nor more
than twenty years from their date of is
suance; the maturities to be in substance
/ hof mi
| the date of issuance of said bonds and
during each year thereafter that any OF
| said bonds are outstanding and unpaid,
/ the City will pay into a special account
| hereinafter more particularly referred tol
out Of the net revenues derived from the
operation Of said gas system, sum equaI
| to the total annual interest on the entire
bond issue. plus $50 900, and the serial re-
tirements FOR each year snali De h hxt,1., a.
! the sum thus to be paid and the amount
necessary to pay the interest on the bonds
| then outstanding or
12) The maturity of said bonds at the
expiration of twenty years from their date
of issuance. with sinking provisions. towit:
revenues from the operation Of said gas
moi more than 5000 600 each year into a
sinking fund to be specially applied 10 the
redemption and payment on or before the
maturity Of the bonds; The moneys so
count hereinafter more specifically re-
ferred to. The moneys in said account
| for sinking fund purposes shall be used TO
redeem bond as follows: This Board may
cause to be purchased in the open mar
ket at the then market price thereof but
not in anv event to exceed par plus two
per cent Of the principal plus accrued in
terest-as many Of the bonds as can De
so acquired by the moneys in said ac~
count for sinking fund purposes from time
to time in the discretion of this Board:
and for this purpose the Board may use
any additional funds that may be depos-
tied in said account for sinking fund pur-
poses Or in the discretion Of this Board. /
ii may cause notice to be published IN one
or more daily papers Of general circulation
printed and published in the City of Indi-
annapolis that II will cause at time ana
place named therein bonds to be pur-
chased and inviting offers for the pur=
chase Of said bonds at prices to be named
in said offers by the holders thereof, in
which event the Board may accent the
lowest Of such offers. not exceeding in
any event a price equal to par plus two
per cent thereof plus accrued interest, ana
the bonds mentioned in the offers SO &C
| this Board TO the extent of moneys in said
sinking fund II in either case this Board
exceeding par plus two per cent plus ac-
crued interest. bonds sufficient IN num-
Der to permit the investment OF the money
available for sinking fund purposes within
sixty DAYS after the payment Of any in
stalrnent Of sinking fund moneys into SAN
account or accounts then the Board shall
cause a drawing BY lot to be held TO result
in the selection Of numbers Of said bonds IN
a quantity sufficient at the price OF par
I
terest to absorb substantially all the
available moneys in said sinking fund ac-
count and the Board shall thereupon ao-
vertise the number UPON said bonds SO
drawn in one daily newspaper Of general
circulation printed and published in the
Citv Of Indianapolis. Indiana. and IN one
daily newspaper Of general circulation
printed and published in the City Of New
York New York. once a week for two sue
cessive weeks and By such advertisement
shall require said bonds numbered 70
be presented for redemption at the place
or places where interest upon said bonds
NAV then be payable. on day soecihed
in said advertisement, such dav being not
less than thirty 1901 DAYS from the date
Of the first publication Of said sdvertise-
ment. and such advertisement shall also
state that interest shall cease TO accrue
mon said day named therein for the re-
demDtion Of said bonds. II any OF the
bonds so drawn shall be registered. SIM
liar notice shall be sent by this Board 70
the registered holder thereof a. MS sd, ad-
Interest upon the bonds 80 drawn shan
cease accordingly on the day named ~
said notice and on or after said day ssid
bonds uron presentation ard surrender