The Algona Upper Des Moines from Algona, Iowa on February 6, 1968 · Page 10
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The Algona Upper Des Moines from Algona, Iowa · Page 10

Publication:
Location:
Algona, Iowa
Issue Date:
Tuesday, February 6, 1968
Page:
Page 10
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r nimitiiimiiiiiniiiiiiiiniiniiiiiiNiiiiiiifiif I Legal ( I Notice I BiiiiinmiiiiiiiiiiiiHiiiiiiiiiiiiimiiiMiiiiiiii NOTICE OF BOND SALE Sealed bids will be received at the office of the Secretary of the Board of Trustees of the Municipal Waterworks Plant and System, in the City Hall, at Algona, Iowa, until 7:30 p. m., on the 28th day of February, 1968, for the bonds hereinafter described. At the hour above named all sealed bids which have been received will be referred to the Board of Trustees at a meeting then to be held at the City Hall, in said City. After the receipt of such sealed bids, if any, open bids will be received, and after the close of open bidding, the sealed bids will be opened, and the bonds will then be sold to the highest bidder for cash. The bonds to be offered are the following: WATER REVENUE BONDS, in the principal amount of' $250,000.00, to be dated February 1, 1968, and to mature as follows : $10,000.00 on December 1, 1968 $10,000.00 on December 1, 1969 $15,000.00 on December 1, 1970 $15,000.00 on December 1, 1971 $15,000.00 on December 1, 1972 $15,000.00 on December 1, 1973 $15,000.00 on December 1, 1974 $15,000.00 on December 1, 1975 $15,000.00 on December 1, 1976 $20,000.00 on December 1, 1977 $20,000.00 on December 1, 1978 $20,000.00 on December 1, 1979 $20,000.00 on December 1, 1980 $20,000.00 on December 1, 1981 $25,000.00 on December 1, 1982 All bonds due after December 1, 1977, will be subject to call in inverse numerical order on December 1, 1977, and on any ^mHutnniiiiiiiiHiiiiiiiiiiiiiiiiiiiiiiiiiiiiing Iniiiiiiiiiiiiiiiiiiiirnrmnmiiiiniiiliiiiiiiiiiti NOTICE OF HEARING ON THE ISSUANCE OF $250,000.00 OF WATER REVENUE BONDS OF THE CITY OF ALGONA, IOWA Public notice is hereby given that in the City Hall, in Algona, Iowa, at 7:30 o'clock p. m., on the 28th day of February, 1963, the Board of Trustees of the Municipal Waterworks Plant and System of the City of Algona, Iowa, will hold a public hearing on the matter of the issuance of Water Revenue Bonds of said City in the amount of $250,000.00 to be used for the purpose of paying a part of the cost of the construction of certain improvements and extensions to the Municipal Waterworks Plant and System of said City, generally described as follows : Section One - Wacer Supply .Facilities. Section Two - Water Storage Facilities. Section Three - Water Main Extensions. At said time and place any interested persons may appear and make such objections as are authorized by statute. By order of the Board of Trustees of the Municipal Waterworks Plant and System of the City of Algona, Iowa. /S/ Allen K. Buchanan Chairman, Board of Trustees of the Municipal Waterworks Plant and System of the City of Algona, Iowa. ATTEST : /S/ Ira Kohl Secretary, Board of Trustees of the Muncipal Waterworks Plant and System of the City of Algona, Iowa. (10) OFFICE SUPPLIES — Business, forms, office furniture, filing equipment and supplies, at The Upper Des Moines Pub. Co., Algona, across from new Municipal parking lot. interest payment date thereafter at the imion of the City, by publication of a notice in a legal newspaper, printed wholly in the English language, of general circulation in the State of Iowa, at lenst thirty days prior to the call date. Purchaser may elect within forty-eight (48) hours from time of sale to have bond denominations of either $1,000.00 each or $5.000.00 each. The above bonds maybe regis- terable as to principal. Interest on said bonds will be payable on June 1, 1968, and semiannually on the first days of June and December thereafter. Principal and interest will be payable at the office of the City Treasurer of Algona, Iowa. These bonds are not general obligations of the City but are payable solely and only out of the fulnre earnings of the Municipal Waterworks Plant and System, of the City of Algona, Iowa. The obligation of the bonds will constitute a lien on the improvements and extensions for which said bonds are issued to pay, and will also constitute a first lien on the net earnings of the Municipal Waterworks Plant and System of the City of Algona, Iowa. The City reserves the right and privilege of issuing additional Water Revenue Bonds payable from the same source and ranking on a parity as to pledge of earnings with the bonds herein offered for sale, for the purpose of paying the cost of future improvements to the Municipal Waterworks Plant and System, provided that before any such additional bonds are issued, there shall have been procured and filed with the Secretary, the written opinion of an independent certified public accountant, stating his opinion that the future net annual revenues of the said Municipal Waterworks Plant and System throughout the period of the bonds then outstanding, will be equal to at least one and one- quarter timus the maximum amount that will become due in any calendar year for both principal and interest on the bonds then outstanding added to the respective annual amounts that will be required for payment of both principal and interest on the bonds then proposed to be issued. All bids shall specify the rate or rates of interest, and all other things being equal, the bid at par and accrued interest and bid for the lowest interest rate will be given preference. The bonds will be awarded to the bidder offering the lowest interest cost, which will be determined by aggregating the interest payable by the City over the life of the bonds in accordance with the terms of each bid presented, and deducting therefrom the premium, if any, stipulated in said proposal. The rates, not to exceed four (4) In number, bid for such issue must be in multiples of one-eighth (l/8th) or one-tenth (l/10th) of one (1) percent, and all bonds of the issue maturing on the same date, must bear interest at the same rate. No bond shall bear more than one interest rate. No bid calling for supplemental coupons will be accepted. Maximum interest rate shall be six percent (6%) per annum. The bonds will be delivered at the office of the City Treasurer of said City, or such other place as may be agreed upon with the successful bidder; if outside of the limits of the City, the bidder shall pay the expenses of delivery at that place. Said bonds will be sold subject to the approving opinion of Ahlers, Cooney, Dorweiler, Allbee & Haynie, Attorneys, of Des Moines, Iowa, as to the legality, and their opinion will be furnished, together with the printed bonds, and all bids will be so conditioned. The approving opinion will be printed on the bonds. The right is reserved to reject any or all bids. By order of the Board of Trustees. /S/ Ira Kohl Secretary of the Board of Trustees of the Municipal Waterworks Plant and System of the City of Algona, Iowa. (10 & 12) 10-Algona la.) Upper Des Moititt Tuesday, Feb. 6, 1968 MAUREEN LENTSCH, Humboldt, spent the weekend with her parents, Mr. and Mrs. John Lentsch. MR. AND MRS. ClintonGodden, Donna, Robbie, Lisa and Julie spent last Sunday at Madrid with Mr. and Mrs. Robert Baker and family. Mrs. Baker is a sister of Mr. Godden. KATHLEEN KELLY, student at the University at Vermillion, So. Dak., spent her semester vacation with her grandparents, Mr. and Mrs. Jess Dugan. A belated birthday observance was held Jan. 24 for her and Wayne Jess Dugan. . MRS. CLARIS KRESENSKYhas been dismissed from St. Ann Hospital where she had been under medical treatment for a severe cold. MRS. WILLIAM KELLY, Sioux Falls, So. Dak., is convalescing from major surgery at the home of her parents, Mr. and Mrs. Jess Dugan. She had been hospitalized at Rochester, Minn. WHEN YOU THINK GRAIN DRYING THINK OF FOR THE MOST EFFICIENT AND ECONOMICAL DRYING OF GRAIN THERMOGAS CAN'T BE BEAT ! Hundreds of area farmers have discovered this fact — If . you aren't using Thermogas why not start now ? THERMOGAS OFFERS A WIDE VARIETY OF ON-THE-FARM USES INCLUDING: GRAIN DRYING - HOME HEATING - WATER HEATING TRACTOR FUEL - STOCK TANK HEATING AND UNIT HEAT FOR OUTBUILDINGS. FOR PROMPT SERVICE BY EXPERIENCED SERVICE PERSONNEL SEE US TODAY Thermogas Of Algona Wh«r« you always g«t "BLUB CARPET" S«rv!e.| SO PHILLIPS ST, 295-2841 WE INVITE YOU TO VISIT WITH US AT THE CORN'SOYBEAN CLINIC

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