Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1962-05-17
NOTICE OF SALE
OF BONDS


by Linda Hess, Clerk of Bur-
ton TOW Is h ip, Geauga
County, Ohio, in her office at
A. j. Ronyak, Inc, Burton,
Ohio, said post office address
being, Lind a Hess, Clerk,
Burton Township, B ur o n,
Ohio, Trustees, in care of A.
]. Ronyak, Inc, Burton, Ohio
until twelve noon Eastern
Daylight Saving Time (11:00
am. Eastern Standard Time)
on the seventh day of June,
1852, at which time the bids
will be publicly opened and
read, for t h 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 $1,000 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: $4,74O on December /,
1858, 81 900 on December / il
each of the years 1864 and
1865, and $1,000 on Decembr
l in each of the years from
1865 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. 1,
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
bituminouS blacktop mater.
ial.
Said bonds are payable al
the legal depository of the
Town S h ip, presently the
First National Bank of Bur.
ton, Burton, Ohio, without de,
duction for it's services as
the Townships paying agent
and are supported by limited
taxes a n d special assess
mentS.
Said bonds will be sold tt
, the highest bidder offering
the lowest interest rate a
not less than par and accrued
= interest. If each of two ol
: more bids is the highest bic
Offering the lowest intereS
rate, the bonds will be award
ed on such one of said high
est bids as is chosen by tht
- Clerk by lot. All bids must bt
, accompanied by cash, banl
cashiers or officials check
or certified check, payable tt
the Township, or any combin
a t on thereof, aggregatint
' one per cent of the par a
mount of said bonds, upol
condition that if the bid is ac
cepted, the bidder will re
ceive and pay for such bondI
: in accordance with the terms
l and provisions of this notice
i No bank bidding for sucl
bonds shall file it's own cash
ier'S or officials check, nor /;
check certified by it. Such Sc
Curity shall be held by thr
Township unused pending de
n livery of the bonds and for
e feited as full liquidated dam
4 ages in the event of defaul
: by the successful bidder.
2 Bids shall be sealed and er
), dorsed bid for Road In
J, provement Bonds"
e The proceedings for this is
S sue have been taken unde
n the supervision of S quir
Sanders & Dempsey, B on
d Attorneys, Cleveland, Ohio
i whose approving opinion ma
Il be obtained by the successfl
it bidder at his expense. A con
n plete transcript of proceed
II ingS and the printed bono
= Will be furnished by tn
Township, together with
e certificate showing no litig;
= tion pending or threatened
it the time of the delivery,
10 enjoin delivery or to conte
le the validity of the bonds I
the power to issue them {