The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1946-03-19
LEGAL.S
NOTICE OF BOND SALE


FUNDING BONDS. SERIES 1916
NOTICE is HEREBY GIVEN That
the State Board of administration
Of the State of Florida. will receive
sealed bids in the office of the
STATE BOARD OF ADMINISTRA-
the hour of 800 p. M, on MARCH
10, 1916, for the purchase of So, 90, :
600 of OVERSEAS ROAD AND TOLL
BRIDGE DISTRICT, NJ ON r Q 10
COUNTY, FLORIDA, SBA REFUND
ING BONDS, SERIES 1916, said
bonds to be issued in coupon form in
denominations of $1,000 each, to be
dated APRIL /, 1916, to bear in
terest expressed in multiples of
one-fourth, one-tenth or one
twentieth. of one per. cent, at the
lowest rate obtainahle when sold
at par, or, at three per cent. per
annum when sold to the bidder who
vile nay the highest price therefor,
alb Interest spayable semi annually
on the first day of Octobere and of
sAprilAof each year, said bonds to
be Numbered / to 3150.s both in
eihusiiYes and to mature as follows;
$685. 900 on April /, 1947
(Not OPTIONAL
2 10000 on April |, 194S
(Not optionaD
3 $4,000 on April l, 1919
(Not OPTIONAL
100000 on April 1, 1850
(Not optionaD
5 100000 on April l, 1851
(Not optionaD
6 275,0O0 on April l, 1852
(Not optionaD
Z 100000 on April l, 1853
Optional April l, 1852 or
any interest payment
date thereafter, at par
and interest
s 100000 on April l, 1854
Optional April l, 1852 or
any interest payment
date thereafter, at par
and interest.
Q 100000 on April l., 1855
Optional April /, 1852 or
any interest payment
date thereafter, at par
and interest.
10 100000 on April ], 1856
4 Optional April !, 1852 or
Fl any sinterest payment
s@># date &Jthereafter, at par
and interest.
IL $40, 000 on April /, 1857
Optional April l, 1852 or
st- AZ any - interest s payment
date thereafter, at par
and interest.
- $4,000 on April 1, 1858
Optional April 1, 1852 or
- any interest payment
date thereafter, at par
fa.z.a and interest \
both principal and interest payable
at The Florida National Bank and
Trust Company at Miami, Miami,
Florida. The payment of said bonds
and the+~interest thereon Will 4be
secured by pledge of and a first
and exclpsiEe~ hen upon az rentaIs
and other revenues deriyeda from
the operation of the toll bridges and
n tharntn and toll high -
ways and any other property of
the district, including the eighty
per cent (S0Gt) of the surplus
gasoline excise or other fuel, taxes
accruing to the credit of Monroe
County, Florida, under Section 16
of Article IN of the Constitution OF
the State of Florida and paid by
the State Road Department as a
part of the rentals, pursuant TO
contract of the State Road Depart
ment with the Overseas Road and
Toll Bridge District dated Decem-
Der 30, 1945.
The bonds will be awarded to the
bidder whose bid produces the
lowest interest cost after deducting
the premium offered, if any. Inter
est on the premium, if any, will not
be considered as deduct!ble in de
termining the net interest cost. IN
determining the net interest cost,
interest will he computed to the
maturity date from the first day of
April, 1916.
Separate bids may be submitted
for any block or blocks of bonds,
or for the entire issue Of 80, 81, Ooo'
b ats 40 bid will be considered for a
part of a specified block. The Board
zfeser1eS the exclusive and unquali-
fled rightftO determine who is the
best bidder and to reject any or all
bids.
49,. tod
by a GERTIFIED CHECK payable
to the State Board 5of Adm nastra-
ton, in sum equal to two per
cent of the par value of bonds of
each block bid for, as an evidence
of good faith and if the successful
bidder shall fail promptly to comply
with the terms of his lid, the check
will be forfeited to the said paNee
as Hquidated damages. Certified
checks require Documentary stamp
Tax at the rate of ten cents per
one hundred dollars or traction
thereof. Separate bankable remit,
tances to cover such tax should
accompany each such check If tax
stamps are not attached. TIL two
per cent good faith checks of un-
successful bidders will be returned
to the bidders by registered mai
at the address stated IN the pluS
The proceeds of the two per cent
good faith checks of successful
bidders will be applied to the. pay :
ment of the purchase price OF sara
bonds. which will be delivered az
Florida National Bank, Jackson
willie, Florida. or at some other bank
in Florida to he mutually agreed
upon between the successful bidder
and the State Board of Administra-
ton. on or before 1000 Il. m, April
Is, 1916. Envelopes containing BIDS
must have endorsed Lhnrc"1 Bid
for Bonds, or words of aquiTalent
import. Said bonds will BE- issued
and sold by the State Board of Ad-
ministration of the State IF Florida,
body corporate composed OF the
Governor, Comptroller and Treas
urer Of the State of Florida, created
by and existing under section 10
of Article IN of the Constitution OF
the State of Florida, and Pursuant
to the applicable statutes of the
State of Florida and a resolution
duly adopted by said Board, and
will be validated by judicial decree:
Reference to said constitutional
provision, statutes and resolution
may he had for a more detailed de-
scription of said bonds.
The approving opinion of Giles
J. Patterson, Attorney. Jacksonville,
Florida, to the effect that such
bonds are valid and legally binding
obligations of the said State Board
of Administration. acting for and
on behalf of said district and, if
requested, d copy of the transcript
of the proceedings involved will be
delivered to the purchasers of said
bonds without charge.
For further information, address
Ralph A. Potts, Executive Director.
State Board of Administration,
Tallahassee. Florida.