Geauga record. [volume] (Chardon, Geauga County, Ohio) 1952-1962, 1962-05-31
NOTICE OF SALE
OF BONDS


by the undersigned, Clerk Of
the Board of Education of the
Burton Troy Local School
District, herein referred to as
the Board, in t h County of
Geauga, Ohio, at her office in
the Burton High School Build
ing, North Cheshire Street,
Burton, Ohio, until twelve
noon Eastern Daylight Saw
ing Time, on the 18th day of
June, 1862, at which time the
bids will be publicly opened
and read, for the purchase Of
bonds of the Board in the ag-
gregate amount of $267 900,
authorized by resolution ad-
opted May II, 1862. Bids shall
be sealed and endorsed bid
for S hool Improvement
Bonds"
Said bonds shall be dated
the first day of July, 1862,
shall be in the denomination
of $1,000 each, shall draw in
terest payable semi-annually
on the first days of June and
December of each year be-
ginning December /, 1862, at
the rate of 3-34 percent per
annum. Anyone desiring to do
so may present a bid for said
bonds based upon their bear
ing a different rate of inter-
est, but not in excess of 6 per
cent provided that where a
fractional interest rate is bid,
such fraction shall be one
eighth of one per cent or a
multiple thereof.
Said bonds mature as fol-
lows: 900 on December l
in each of the years from 1858
to 1881, inclusive, and $13, 900
on December l 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-
Tipping school buildings and
landScaping a nd 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
it's services as the Boards
paying agent, and are sup
ported by unlimited taxes.
Said bids will be promptly
considered, and said bonds
win be sold to the highest bid.
der offering the lowest inter.
est rate at not less than PAL
and accrued interest. The
lowest interest rate will be
determined by calculating
the t o t a ] interest to stateC
maturity at the rate bid anC
deducting therefrom the pre-
MUM bid. If each of two OF
more bids is the highest bic
) offering the loves t interS
: rate, the bonds will be award
ed on such one of said higheS
bids as is chosen by Lot. Al
; bids must be accompanied by
cash, bank cashiers Or offic
ial'S check, or certified checl
payable to the Board, or any
combination thereof, aggre
: eating one per cent of the pa
amount of said bonds, upol
condition that if the bid is &C
: cepted, the bidder will re
I ceive and pay for such bond
in accordance with the term
and provisions of this notice
No bank bidding for sucl
: bonds shall file its own cash
ier'S or officials check, nor
: check certified by it. Sucl
2 security shall be held by tn
2 Board unused pending deliv
cry of the bons and forfeite'
: as full liquidated damages il
the event of default by tn
successful bidder.
The proceedings for this is
e sue have been taken unde
: the supervision of Squire
Sanders & Dempsey, Bon
e Attorneys, Cleveland, o h c
} whose approving opinion ma
e be obtained by the successfu
r bidder at his expense. A com
d plete transcript of proceed
: ings and the printed bond
d will be furnished by tn
G Board, together with cert
h ficate showing no litigatio
: pending or threatened at tn
l. time of the delivery, to er
r join delivery or to contest tn