The journal. (Caldwell, Ohio) 1934-1961, 1959-12-31
NOTICE OF SALE OF BONDS

SSdiS0 DiQS VIII De received Dy the
UNDERSIGNED. Clerk of the Board of
Education of Caldwell Exempted Vii
lage School District. herein referred
to as the Board, in the County of
Noble, Ohio, at her office at Caldwell
aeights Elementary School. North
Ohio. until ! 100 p. m, Eastern Standard
Time, on the 18th day of January,
1860. at which time the bids will be
publicly opened and read for the
purchase of bonds of the Board in the
aggregate amount of S524,000, auth
ber IS, 1889
Said bonds shall be dated the first
day of January 1860, shall be in the
denomination of 81 900 each and shall
draw interest payable semi-annually
on the first days of June and Decem-
Der OF each year beginning June /,
ls6O, at the rate of 4Eo per annum.
Anyone desiring to do so may present
a bid for said bonds based upon their
bearing a different rate of interest,
but not in excess of So, provided that
where fractional interest rate is bid,
such fraction shall be one-quarter of
one per cent or multiple thereof
Said bonds mature as follows:
S23. 900 on December | in each Of
the years 1861 to 1883, inclusive,
except $4,000 on December l in
the years 1861 to 1865, inclusive.
Said bonds are issued for the pur-
pose of constructing a fireproof high
school building. undermining the exist
ing school buildings, equipping and
furnishing the same, and acquiring
real estate therefore.
Said bonds are payable at the office
of the legal depositarv of the Board.
presently, The First National Bank of
Caldwell. Caldwell, Ohio, and are sup
ported by unlimited taxes
Said bids will be promptly consid-
cred. and said bonds will be sold to
the highest bidder offering the lowest
interest rate at not less than par and
accrued interest. The lowest interest
rate will be determined by calculating
the total interest to stated maturity
at the rate bid and deducting there
from the premium bid. If each of two
or more bids is the highest bid offer
ing the lowest interest rate, the bonds
will be awarded on such one of said
highest bids as is chosen by the said
Clerk by lot. All bids must be accom-
panied by a bond OF, certified check
on a solvent bank (other than the
bidder PAYABLE to the Board. in the
amount of one per cent of the par
amount of the bonds bid for, upon
condition that if the bid is accepted,
the bidder will receive and pay for
terms and provisions of this notice. or
forfeit the same as liquidated dam
ages in the event said condition is not
fulfilled.
Bids shall be sealed and endorsed
Bid for School Improvement Bonds"
The proceedings for this issue have
been taken under the supervision of
Squire, Sanders & Dempsey Bond At
torneys, Cleveland, Ohio, whose ap-
proving opinion may be obtained by
the successful bidder at his expense.
A complete transcript of proceedings
on a nta aI DC 10 ftrY, ,,el,
ed bv the Board, together with a GER
tificate showing no litigation pending
or threatened at the time of the de-
livery, to enjoin delivery or to contest
the validity of the bonds or the power
TO issue them or the levy or collec-
ton of taxes for their payment.
In the event the interest on said
bonds should by act of Congress or
otherwise become subject to Federal
Income Taxes prior to delivery, the
successful bidder may refuse to accept
delivery and in such event his bond or
certified check shall be returned with
out interest.
It is contemplated that the Board
will meet at TOO o'clock p. m. on the
18th day of January, 1860 to consider
said bids and make an award.
The bonds will be delivered at the
office of the undersigned, or such
other place as may be agreed on with
the successful bidder if outside of the
limits of the School District the bidder
shall pay expense of delivery at that
place.
Before making tender of the bonds
at the place of delivery the Board
shall give written notice to the sue
cessful bidder not later than the third
day before the proposed tender. of the
fact that the bonds, transcript, no-liti-
cation certificate, and approving opin-
ion will be available for delivery and
giving the date and hour for the ten
der at the said place of delivery, pro-
vided however that nothing herein
contained shall prevent the making of
a mutually agreeable arrangement for
the delivery of the bonds either at
the place fiXd for delivery or else
where.
If such notice has not been given
or waived by the successful bidder
and the bonds; transcript. mobilization
certificate and approving opinion are
not available for delivery to the sue
cessful bidder at such place of de-
livery on or before 1900 o'clock noon
of the 30th calendar day after the day
fixed for the receipt Of bids, and the
successful bidder shall not be in de-
fault of any of his obligations, he shall
have the right thereafter and SO long
as no such tender by the Board shall
yet have been made, to cancel the con-
tract of purchase; such right to be
exercised by delivering to the under
signed (or to his office during buSi-
ness hours) written notice of such
cancellation. Such bidder shall there
deposit which accompanied his bid and
it shall be returned to him Immediate
ly:
The right is reserved to reject bids.