Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1962-05-10
NOTICE OF SALE
OF BONDS


Sealed bids will be received
by Linda Hess, Clerk of Bur-
ton wn S h ip, Geauga
County, Ohio, in her office at
A. j. Ronyak, Inc, Burton,
Ohio, said post office address
being, L in d a Hess, Clerk,
Burton Township, Burt o n,
Ohio, Trustees, in care of A.
j. Ronyak, Inc, Burton, Ohio
until twelve noon Eastern
Daylight Saving Time (11:00
am. Eastern Standard Time)
on the seventh day of June,
1862, at which time the bids
will be publicly opened and
read, for t h e purchase of
bonds in said Township in the
aggregate amount of SAT TAO.
Said bids will be promptly
considered by the Trustees of
said Township.
Said bonds shall be dated
the first day of June, 1862,
shall be in the denomination
of ST 1000 each except bond
number one, which shall be in
the denomination of $740, that
said bonds shall bear interest
at the rate of 3 "a percent per
annum, but anyone desiring
to do so may present a bid for
said bonds based upon their
bearing a different rate of in
tereSt, provided that where a
fractional interest rate is bid
such fraction shall be one =
eighth of one per cent, Or a
multiple thereof. Said interest
shall be payable on June l
and December l of each year,
beginning June l, 1868.
Said bonds mature as fol-
lows: 4,740 on December /,
1868, 81, 900 on December l in
each of the years 1864 and
1865, and $1,000 on Decembr
l in each of the years from
1866 to 1872 inclusive.
Said bonds are issued in an
ticipation of the collection of
special assessments to pay
the cost of improving the
Burton Lakes Development
Road Improvement No. l,
more specifically being the
Improvement of Lake Road,
Lakeview Drive, RoSelaWn
Drive, Paulette Drive, Geor-
gette Drive, and Jackson
Drive between certain termi-
nj, by paving the same with
Ibituminous blacktop mater
ial.
Said bonds are payable at
the legal depository of the
T o W n S h i p, presently the
First National Bank of Bur
ton, Burton, Ohio, without de-
duction for its services as
the Townships paying agent,
and are supported by limited
taxes and special assess
mentS.
Said bonds will be sold to
the highest bidder offering
the lowest interest rate at
not less than par and accrued
interest. If each of two or
more bids is the highest bid
offering the lowest interest
rate, the bonds will be award
ed on such one of said high
est bids as is chosen by the
Clerk by lot. All bids must be
accompanied by cash, bank
cashiers or officials check,
or certified check, payable to
the Township, or any combin-
a t i o n thereof, aggregating
one per cent of the par a
mount of said bonds, upon
condition that if the bid is ac-
cepted, the bidder will re-
ceive and pay for such bonds
in accordance with the terms
and provisions of this notice.
No bank bidding for such
bonds shall file it's own cash
ier'S or officials check, nor a
check certified by it. Such Sc
curity shall be held by the
Township unused pending de-
livery of the bonds and for
feited as full liquidated dam
ages in the event of default
by the successful bidder.
Bids shall be sealed and en-
dorsed bid for Road I'M
provement Bonds"
The proceedings for this is
sue have been taken under
the supervision of Squire,
Sanders & Dempsey, B o n d
Attorneys, Cleveland, Ohio,
whose approving opinion may
be obtained by the successful
bidder at his expense. A COM
plete transcript of proceed
ingS and the printed bonds
will be furnished by the
Township, together with a
certificate showing no litiga-
ton pending or threatened at
the time of the delivery, to
enjoin delivery or to contest
tho uoliIif1y of fIo how'd o,.