The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1947-08-14

NOTICE Is HEREBY GIVEN
by the City Council of the City
of Hardin, Montana, that the
said Council will, on the End
day of September, 1947, at the
hour of eight o'clock p. M, at
its Council Chambers in the
City Hall, of the City of Har-
din, Montana, sell to the high
est and best bidder for cash,
either amortization bonds or
serial bonds of the said City
in the total amount of $76,-
10000 Dollars for the purpose
of payment for materials furn-
iShed and for labor and work
done in the bringing to proper
grade by excavation and en-
bankment, and paving with a
water bound macadam base
course, surfaced with a crush
ed gravel top course, binding
said surface with an asphalt
oil, cut back asphalt, a hot
asphalt cement or an emulsi-
fled asphalt, made and done
and to be done in Special I'M
provement District No. 80 of
the City of Hardin, Montana,
and the building of curbs and
cutters in said district, and the
cost and expenses incurred in
the creation of said improve
ment district.
Amortization bonds will be
the first choice and Serial
bonds will be the second choice
of the Council.
If amortization bonds are
sold and issued the entire is
sue may be put into one Cd
single bond or divided into
several bonds, as the council
may determine upon at the
tim& of sale, both principal
and interest to be payable in
semi-annual installments dur
ing a period of ten (10) years
from the date of issue.
Bonds to be payable over a
period of ten (10) years from
date Of issue.
If serial bonds are issued and
sold they will be in the amount
of 100000 each and the sum
of 100000, of said serial bonds
will become due and payable
on the second day of January,
1949, and the sum of 100000,
will become due and payable
on the second day of January,
1850, and a like amount on the
same day each year thereafter
until all such bonds are paid.
The said bonds, either amor
tiZation or serial, will bear date
the End. day of September,
1947, will bear interest at a
rate not exceeding six per
centum 1921 per annum, pay
able semi-annually, on the End,
day of January, and on the
End. day of July, in each year,
and will be redeemable at the
option of the City five years
from the date of issue or on
any interest paying day there
Such bonds shall be re-
deemable by the Treasurer
when there are funds in the
Special Improvement District
Fund against which said bonds,
on presentation of the coupons
belonging thereto, and any
funds remaining shall be ap-
piled to the payment of the
principal and redemption of
the bonds in the order of their
registration; and provided, fur
ther that whenever there are
any funds in any special i'm
provement district fund, after
paying the interest on such
bonds drawn against said fund,
the Treasurer shall call in for
payment outstanding bonds,
which, together with the in
terest thereon to the date of
redemption, will equal the
amount of said fund on that
date, which date shall be fixed
by the Treasurer, who shall
give notice by publication once
IN a newspaper published in
the city, or at the option of
the treasurer, by written not
ice to the holder or holders of
such bond, if their address be
known, of the number of bonds
and the date on which payment
will be made, which date shall
not be less than ten days aft
er the date of publication or
of service of notice, and on
which date so fixed, interest
shall cease.
Said bonds will be sold for
not less than their par value
with accrued interest to date
of delivery and all bidders
must state the lowest rate of
interest at which they will
purchase the bonds at par. The
Council reserves the right to
reject any and all bids and to
sell said bonds at private sale.
All bids other than by or on
behalf of the State Board of
Land Commissioners of the
State of Montana, must be &C
companied by a certified check
in the sum of 100000, payable
to the order of the City Clerk,
which will be forfeited by the
successful bidder in the event
he shall fail or refuse to COM
plete the purchase of said
bonds, in accordance with the
terms of his bid.