Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1962-05-24

such fraction shall be one
eighth Of one per cent or a
multiple thereof.
Said bonds mature as fol-
lows: 900 on December
in each of the years from 1858
TO 1881, inclusive, and $l3, 900
on December ] in each of the
years from 1882 to 1884, in
elusive.
Said bonds are issued for
the purpose of acquiring real
estate for school purposes,
remodeling, improving and
making additions to school
buildings, furnishing and eq-
uipping school buildings and
landscaping and otherwise
improving school sites.
Said bonds are payable at
the office of the legal deposit
ary, presently The First Nat
ional Bank of Burton, Burton
Ohio, without deduction for
its services as the Boards
paying agent, and are sup
ported by unlimited taxes.
Said bids will be promptly
considered, and said bonds
will be sold to the highest bid
der offering the lowest inter
est rate at not less than par
a n d accrued interest. The
lowest interest rate will be
determined by calculating
the t % t a / interest to stated
maturity at the rate bid and
deducting therefrom the pre-
MUM bid. If each of two or
more bids is the highest bid
offering the low e S t interSt
rate, the bonds will be award
ed on such one of said highest
oidS as is chosen by lot. All
bids must be accompanied by
cash, bank cashiers Or offic-
ial'S check, or certified check
payable to the Board, or any
combination thereof, aggre-
eating one per cent of the par
amount 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 its own cash
ier's or officials check, nor a
check certified by it. Such
security shall be held by the
Board unused pending deliv-
cry of the bonS and forfeited
as full liquidated damages in
the event of default by the
successful bidder.
The proceedings for this is
sue have been taken under
the supervision of Squire,
Sanders & Dempsey, Bond
Attorneys, Cleveland, ohio,
whose approving opinion may
he obtained by the successful
bidder at his expense. A COM
plete transcript of proceeo-
ings and the printed bonds
will be furnished by the
Board, together with a certi-
ficate showing no litigation
pending or threatened at the
time of the delivery, to en-
join delivery or to contest the
validity of the bonds or the
power to issue them or the
levy or collection of taxes for
their payment.
In the event the interest on
said bonds should by act of
Congress or otherwise be-
come subject to Federal In
come Taxes prior to delivery,
the successful bidder may re-
fuse to accept delivery and in
such event his bond or certi-
fled check shall be returned
without interest.
1t is contemplated that the
Board will meet at 1900 O.
clock noon Eastern Standard
time on the 18th day of June,
1862, to consider said bids and
make an award.
The bonds will be delivered
at the office of the undersign-
ed, or such other place as may
be agreed on with the success
full 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 successful bid
der not later than the third
day before the proposed ten
der of the e 1 that the