The Independent-News, Volume 120, Number 50, Walkerton, St. Joseph County, 27 April 1995 — Page 7

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ro)FFICIAL BOND SALE NOTICE * cr Sealed proposals will be received iy the Clerk-Treasurer of Walker''’^n, Iniana, a? the office of the gown’s Financial Advisor, H. J. Jmbaugh & Associates, 1500 oHorth Oak Road, Plymouth, Indiina, 46563 up to the hour of 1:30 Jc4.m. (Chicago Time) on the 11th 11 'lay of May, 1995, for the purchase >f the bonds of said Town desiglated as “Sewage Works Revenue londs of 1995“ in the aggregate Ol, imount of $845,000. Bidders may " »id a discount not to exceed 2% of '.he par value of the bonds. The c ^ t >onds will bear interest at a rate or khates not to exceed 6.25% per amnnum for bonds maturing Septem>er 1, 1996 through September 1, 11 c "000; 6.75% per annum for bonds !CS naturing September 1, 2001 through September 1, 2005; 7.25% >er annum for bonds maturing l c ieptember 1, 2006 through Sep(ember 1, 2010; and 7.50% per a mnum for bonds maturing on or ifter September 1. 2011 (the exact hterest rate or rates will be deternined by bidding). Interest will |e payable on September 1, 1995 ind semiannually thereafter. Said >onds will be dated as of the first lay of the month in which sold, will >e in the denominations of $5,000 »r integral multiples thereof and vill mature annually on September ” ,a ' in the years and in the amounts as ollows: Gear Amount Year Amount J 96 $25,000 2006 $40,000 * 997 25,000 2007 45,000 u 998 25,000 2008 45,000 >2<f99 30,000 2009 50,000 ,k<!6oo 30,000 2010 50,000 !001 30,000 2011 55,000 1002 30,000 2012 60,000 ^’oo3 35,000 2013 60,000 JOO4 35,000 2014 65,000 111 1005 40,000 2015 70,000 All or a portion of the bonds may (e issued as one or more term onds, upon election of the sucessful bidder. Such term bonds I thall have a stated maturity or maarities of September 1, 1997 hrough September 1, 2015, as determined by the successful bidder. ; v "he term bonds shall be subject to nandatory sinking fund redemp- । ion and final payment(s) at maturj ty at 100% of the principal amount hereof, plus accrued interest to the edemption date, on dates consisent with the above schedule. ni The bonds of this issue maturing >n and after September 1, 2006, are s edeemable at the option of the c , .’ow non March 1, 2006, or any date n < hereafter, on thirty (30) days’ 1 iotice, in whole or in part, in inon erse order of maturity and by lot ahi vithin a maturity, at face value, to--111 ;ether with the following premiacc ims. , 2% if redeemed on March 1, 1006, or thereafter lai on or before February 28, 2007; po, 1% if redeemed on March 1, t |OO7, or thereafter tn I on or before February 29, 2008; ct 0% if redeemed on March 1, ,l 008, or thereafter 11 r prior to maturity; ( »!us accrued interest to the date t xed for redemption. ir g Principal is payable at the office fol f Valley American Bank and Trust ompany, the registrar and paying gent bank, located in the City of ,I d e outh Bend, Indiana. Interest lIU hall be paid by check mailed to the egistered owners or by wire transer to depositories. The bonds will >e issued in fully registered form. Each bid must be for all of said } >onds and must state the rate or ates of interest in multiples of 1/8 :r -r 1/20 of 1%. Any bids specifying wo or more interest rates shall also Inapecify the amount and maturities f the bonds bearing each rate, but JI bonds maturing on the same x Ute shall bear the same single Il 1< ° nterest rate. The rate on any ma- । unty shall be equal to or greater in b han the rate on the immediately mb receding maturity. The award ✓ill be made to the best bidder ompiying with the terms of sale

and offering the lowest net interest cost to the Town, to be determined by computing the total interest on all of the bonds to their maturities and deducting therefrom the premium bid, if any, and adding thereto the discount bid, if any. Although not a term of sale, it is requested that each bid show the net dollar interest cost to final maturity and the net effective average interest rate on the entire issue. No conditional bid or bid for less than 98% of the par value of the bonds will be considered. In addition to the amount bid, the successful bidder will be required to pay accrued interest from the dated date of the bonds to the date of delivery at the rate or rates named in the bid. The right is reserved to reject any and all bids. In the event no satisfactory bids are received at the time and on the date herein fixed, the sale will be continued from day to day thereaftrer, without further advertisement for a period of thirty (30) days during which time no bid which provides a higher net interest cost to the Town than the best bid received at the time of the advertised sale will be considered. Each bid must be on a customary bid form which shall be enclosed in a sealed envelope addressed to the undersigned Gerk-Treasurer and marked “Bid for Town of Walkerton Sewage Works Revenue Bonds of 1995.” Each bid must be accompanied by a certified or cashier’s check or a Financial Surety Bond in the amount of $8,450 (“Deposit”). If a check is submitted, it shall be drawn on a bank or trust company which is insured by the Federal Deposit Insurance Corporation. In either case, the Deposit shall be payable to the “Town of Walkerton,” and shall be held as a guaranty of the performance of the bid. If a financial surety bond is used, it must be from an insurance company licensed to issue such bond in the State of Indiana, and such bond must be submitted to the Town prior to the opening of the bids. The financial surety bond must identify each bidder whose Deposit is guaranteed by such financial surety bond. If the bonds are awarded to a bidder utilizing a financial surety bond, then that purchaser is required to submit its Deposit to the Town in the form of a certified or cashier’s check (or wire transfer such amount as instructed by the Town) not later than 3:30 p.m. (Chicago Time) on the next business day following the award. If such Deposit is not received by that time, the financial surety bond may be drawn by the Town to satisfy the Deposit requirements. No interest on the Deposit will accrue to the successful bidder. In the event the successful bidder fails to honor its accepted bid, the Deposit will be retained by the Town. The successful bidder will be required to make payment for such bonds in Federal Reserve funds or other immediately available funds and accept delivery of the bonds within five days after being notified that the bonds are ready for delivery, at such bank in the City of Indianapolis, Indiana, or the Town of Walkerton, Indiana, as the purchaser shall designate, or at such other location which may be mutually agreed to by the Town and such bidder. It is anticipated that the bonds will be ready for delivery within thirty days after the date of the sale and if not ready for delivery within forty-five days after the sale date, the purchaser shall be entitled to rescind the sale and obtain the return of the Deposit. The successful bidder is expected to apply to a securities depository registered with the SEC to make such bonds depository-eligible. The successful bidder will also be required to certify as to the price at which a substantial amount of bonds of each maturity was reoffered to the public. The opinion of Ice Miller Donadio & Ryan, bond counsel of Indianapolis, Indiana, approving the legality of said bonds, together with a transcript of

the bond proceedings, and closing certificates in the usual form showing no litigation, will be furnished to the successful bidder at the expense of the Town. It is anticipated that CUSIP identification numbers will be printed on the bonds, but neither the failure to print such numbers on any bond nor any error with respect thereto shall constitute cause for failure or refusal by the successful bidder therefor to accept delivery of and pay for the bonds in accordance with the terms of its bid. No CUSIP identification number shall be deemed to be a part of any bond or a part of the contract evidenced thereby and no liability shall hereafter attach to the Town or any of its officers or agents because of or on account of such numbers. All expenses in relation to the printing of CUSIP indentification numbers on the bonds shall be paid for by the Town; provided, however, that the CUSIP Service Bureau charge for the assignment of said numbers shall be the responsibility of and shall be paid for by the successful bidder. The successful bidder will also be responsible for any other fees or expenses it incurs in connection with the resale of the bonds. Said bonds are being issued under the provisions of Indiana Code 36-9-23 for the purpose of providing funds to be applied on the costs of the construction of improvements and additions to the municipal sewage works of the Town of Walkerton. The bonds will be payable solely out of a special fund from the net revenues of the sewage works of the Town. In the opinion of bond counsel, under the federal statutes, decisions, regulations and rulings existing on this date, the interest on the bonds is excludable from gross income for purposes of federal income taxation. The bonds are subject to the Internal Revenue Code of 1986 as in effect on the date of their issuance (the “Code”) which imposes limitations on the issuance of obligations like the bonds under federal tax law. The Town has covenanted to comply with those limitations to the extent required to preserve the exclusion of interest on the bonds from gross income for federal income tax purposes. The Town has designated the bonds for purposes of Section 265(b) of the Code to qualify for the $10,000,000 annual exception from the 100% disallowance, in the case of banks and other financial institutions, of the dedication for interest expense allocable to tax-exempt obligations. The Town has outstanding certain Sewage Works Revenue Bonds, Series A, dated February 9, 1983 (the ”1983 Bonds”), now outstanding in the amount of $415,000 and maturing annually over a period ending September 1,2022. The bonds now being offered will rank on a parity with the 1983 Bonds. The Town has reserved the right to issue additional bonds ranking on a parity with the bonds now being offered, upon certain terms and conditions specifically set forth in the ordinance authorizing issuance of the bonds. The Town has prepared an Official Statement relating to the bonds. A copy of the Official Statement may be obtained from the Financial Advisor, H. J. Umbaugh & Associates, 1500 North Oak Road, Plymouth, Indiana 46563. No final Official Statement will be prepared. However, after the sale up to 50 additional copies of the Official Statement will be made available to the purchaser of the bonds upon application to H. J. Umbaugh & Associates. Dated this 20th day of April, 1995. /s/ Judith R. Hiler Town of Walkerton Gerk-Treasurer 2ta27 The bald cypress is not a true cypress but related to the sequoia.

APRIL 27, 1995 - THE INDEPENDENT NEWS -

Stephanie Baker Awarded Alumni Scholarship Stephanie E. Baker, daughter of Ruth A. Baker, has been awarded an Alumni Scholarship from the University of Georgia for the 199596 academic year. Miss Baker attends Ware County High School and plans to major in business at the University of Georgia in the fall. Scholarships arc awarded to entering freshmen based on SAT scores and high grade point averages. The scholarships are funded by the University of Georgia Foundation through contributions from alumni and other donors. Stephanie is the granddaughter of Pearl and Lee Frailey, Walkerton. SENIOR CARD CLUB NEWS Euchre winners on Tuesday of last week at the Senior Card Club were: first, Martha Young 72 points; second, Helen Verkier 68; third, Ruth Ullery 67; and fourth Thelma Dill and Orville Klinedinst tied with 66 points. On Thursday, the pinochole winners were: first, Helen Verkier 713; second, Martha Young 653; third, Liz Moreau 628; and fourth, Marilyn Stull 614.

Family Eye Cam elliott frash, o.d. I; J; ROBERT PROUDFIT, O.D. ]; ]! 2002 Mishawaka Ave. 413 Michigan St. South Bend Walkerton b LAST ROUNDUP Stillwell 369*1025 FAMILY DINING Beer - Liquor - Wine ^o^ AMATUER HOUR KARAOKE SYSTEMS EVERY FRIDAY Sing-Along To Music Videos Oldies. Country, And Classics Hits From I \ The 50s To Present FRIDAY NIGHT SPECIAL - FISH FRY All You Can Eat — With Salad Bar SATURDAY NIGHT SPECIAL - PRIME RIB With Salad Bar Included I BECKER BUILDER I OF HECKAMAN HOMES I DRIVE OUT AND SEE OUR MODEL 903 S. State St. (St. Rd. 23 South), North Liberty I 656-8796 369-9442 Monday - Friday 9:00 - 6:00 — Saturday 9 00 - 3 00 I — Also Droo Off For — — ■ THE INDEPENDENT-NEWS XAVER CLEANERS

IMMUNIZATION CLINICS FOR THIS AREA SET BY COUNTY HEALTH DEPT. The Saint Joseph County Health Department will be conducting an Immunization Clinic at both North Liberty and Lakeville in early May. The normal scheduled clinic in Walkerton will not be held because of conflict with election day The North Liberty Gimc will be at the North Liberty Community Center, 300 S. Main Street, on Tuesday, May 9, from 9:00 a.m. - 3:00 p.m. No appointments are necessary. All children must be accompanied by a parent of legal guardian and all previous shot records are needed for immunizations. The Lakeville Ginic will be held on Thursday, May 4, from 9:00 a.m. - 3:00 p.m. at the Old Lakeville School Project. Now is the time to get immunizations for children entering kindergarten and the 6th grade this fall. Avoid the crowds and hassle this summer. For further information call 235-9783. GROVERTOWN OREGON-DAVIS, HAMLET ALUMNI TO BE HELD The Gro vert own, Oregon-Davis, Hamlet Alumni will be held June 17, 1995 at Cheers, Kingsbury, Indiana at 6:30 p.m. Please send address changes to Eleanor Harness, 9320 E. 500 N., Grovertown, Indiana 46531 or call Beulah Schoppel at 867-8413. IHnp&nnfcn 25 Twri 0/ Prolessfontl A Ptnonti Stnrict • UPHOLSTERY • CARPETING * BOATS I Ko • VEHICLES US® • SEMIS (219) 586-2745 Cail 6 00 am. - 12 00 p m

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