Kremlin School Bond Issue, 1936


Havre Daily News, March 6th-13th-20th-27th, 1936
NOTICE OF SALE OF SCHOOL DISTRICT BONDS

Notice is hereby given by the Board of Trustees of School District No. 19 of Hill County, State of Montana, that the said Board of Trustees will on the 7th day of April, 1936, at the hour of 2:00 o'clock, P.M. at the school building in Kremlin, in the said school district, sell to the highest and best bidder for cash, either amortization or serial bonds of the said school district in the total amount of Twenty-two Thousand and 00-100 Dollars, ($22,000.00) for the purpose of building and constructing a grade and high school and gymnasium building at Kremlin, Montana and furnishing and equipping the same.

Amortization bonds will be the first choice and serial bonds will be the second choice of the said School Board.

If amortization bonds are sold and issued, the entire issue may be put into one single bond or divided into several bonds, as the said Board of Trustees may determine upon at the time of sale, both principal and interest to be payable in semi-annual installments during a period of Twenty (20) years from the date of issue.

If serial bonds are issued and sold they will be in the amount of $1100.00 each; the sum of $1100.00 of the said serial bonds will become payable on the 2nd day of January, 1937, and a like amount on the same day each year thereafter until all of such bonds are paid.

The said bonds, whether amortization or serial bonds, will bear the date of January 2nd 1936, and will bear interest at a rate not exceeding six per centum (6%) per annum, payable semi-annually, on the 2nd day of January, and 2nd day of July in each year, and will be redeemable in full on any interest payment date from and after five-years-from the date of issue.

The said bonds will be sold for not less than their par value with accrued interest, and all bidders must state the lowest rate of interest at which they will purchase the bonds at par. The Board of Trustees reserves the right to reject any and all bids and to sell the said bonds at private sale.

All bids other than by or on behalf of the State Board of Land Commissioners must be accompanied by a certified check in the sum of $500.00, payable to the order of the Clerk, which will be forfeited by the successful bidder in the event that he shall refuse to purchase the said bonds.

All bids should be addressed to the undersigned clerk.
MRS. B. J. ROBECK, Chairman,
School District No. 19, of Hill County,
Address: Kremlin, Montana
Attest:
ODIN SJORDAL,
Clerk. School Dist. No 19 of Hill County,
Address: Kremlin, Montana
(March 6-13-20-27)