The Hardin tribune-herald. [volume] (Hardin, Mont.) 1925-1973, 1949-08-18
LEGAL


NO41NG0
NOTICE OF SALE OF SPECIAL
IMPROVEMENT DISTRICT
BONDS OF THE CITY OF
HARDIN, MONTANA
NOTICE Is HEREBY GIVEN
by the City Council of the
City of Hardin, Montana, THAT
the said Council will, on the
10th day Of September, 1949,
at the hour of eight O'Clock =.
M, at its Council Chambers in
the City Hall, of the City OF
Hardin, Montana, sell to the
highest and best bidder for
cash, either amortization bonds
or serial bonds of the said
City in the total amount OF
100000 Dollars for the purpose
of paying for work and materi-
al used in the construction OF
an 8" branch sanitary sewer in
the alley between First and
Second streets and extending
from the manhole on Miles
Ave-, between First and Second
streets to a point adjacent to
Lots IS 81 IA Blk. II Highland
Park Addition with all neceS-
Sary Wyes, manholes and ap-
purtenanceS, in accordance with
the plans and specifications of
the City Engineer now on file
in the office of the City Clerk
of the City of Hardin, Montana,
together with costs and expenS-
eS, connected with and inclden-
tai to the formation OF said
Special Improvement District in
Guiding costs of preparation Of
plans, Specifications, maps, plats,
Engineering, Superintendent,
and inspection, and preparation
of assessment rolls.
Amortization bonds will be
the first choice and Serial
bonds will be the second choice
of the Council.
If the 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
time of sale, both principal and
interest to be payable in semi
annual inStallments during a.
period of ten (10) years from
date of issue.
Bonds to be payable over a
period of ten (10) years firm
date of issue.
If serial bonds are issued and
sold they will be in the amount
of $4,000 each and the sum
of $4,000, of said serial bonds
will become due and payable
on the second day of January
1851, and the sum of $4,000
will become due and payable on
the second day of January.
1852, and a like amount on
the same day each year there
after until all such bonds are
paid.
The said bonds, either amor
tization or serial, will bear date
the Doth day of September
1949, will bear interest at arate
not exceeding six per centum
(6%) per annum payable 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 inter-
est paying day thereafter.
Such bonds shall be redeem
able by the Treasurer when
there are funds in the Special
Improvement District Fund
against which said bonds on
presentation of the coupons be-
longing thereto, and any funds
remaining shall be applied to
the payment of the principal
and redemption of the bonds in
the order of their registration;
and provided, further that
whenever there are any funds
in any special improvement
district fund, after paying the
interest on such bonds drawn
against said fund, the Treas
urer shall call in for payment
outstanding bonds, which. to-
gether with the interest there
on to the date of redemption,
will equal the amount of saio
fund on that date, which date
shall be fixed by the Treasurer,
who shall give notice by pub
lication once in q newspaper
published in the city, or at the
option of the treasurer, by
written notice to the holder or
holders Of such bond, if their
address be known, OF the NUM-
Der of bonds and the date on
which payment will be made,
which date shall not be less
than ten days after 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 in
terest at which they will pur-
chase 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