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About Heppner gazette-times. (Heppner, Or.) 1925-current | View Entire Issue (June 1, 1978)
The Gazette-Times, Heppner, Oregon, Thursday, June 1, 1978 NINE Public Notice Public Notice OFFICIAL NOTICE OF BOND SALE $4,800,000 00 SCHOOL DISTRICT NO. 1 MORROW COUNTY STATE OF OREGON GENERAL OBLIGATION BUILDING BONDS Notice is hereby given that sealed bids will be received on behalf of School District No. 1,, Morrow County, Oregon, until 10:00o'clock a.m.. Pacific Prevailing Time on June 13. 1978. at the offices of Ragen, Roberts & O'Scannlain, 3317 First National Bank Tower, Portland, Oregon 97201, at which time they will be publicly opened and announced. The bids shall be considered and acted upon by the Board of the District at its meeting to be held on June 13. 1978. commencing at 11 .00 o'clock a.m.. Pacific Prevailing Time. ISSUE: Four Million .Eight Hundred Thousand Dollars ($4,800,000.00) consisting of 960 coupon bonds in denomina-' tions of FIVE THOUSAND DOLLARS ($5,00000). all dated July 1. 1978. INTEREST RATE: Maximum not to exceed a net effective rate of Ten percent (10 percent) per annum, the first interest payment due on January 1, 1979 and semiannually thereafter on January 1 and July 1 of each year. Bidders must specify the interest rate or rates which the bonds hereby offered for sale shall bear. The bids shall comply with the following conditions: (1) Each interest rate specified in any bid must be in multiples of 'th or l-20th of one percent (I percent); (2) No bond shall bear more than one rate of interest, no interest payment shall be evidenced by more than one coupon, supplemental coupons will not be permitted; (3) Each bond shall bear interest from its date to its stated maturity date at the interest rate specified in the bids: (4) All bonds maturing at any one time shall bear the same rate of interest; and (5) Rates specified for the years, 1979 through 1986 inclusive, shall not exceed seven percent (7 percent), and 6) Rates specified for bonds maturing on or after 1988 shall not be less than rates specified for any earlier bonds maturing on or after 1987. MATURITIES: The bonds shall mature serially in numerical order on July 1 in each year as follows: BOND NUMBERS YEAR 1-40 1979 $200,000 41-85 1980 $225,000 86-130 1981 $225,000 131-180 1982 $250,000 181-235 1983 $275,000 2.16-290 1984 $275,000 291-330 1985 $300,000 351-415 1986 $325,000 416-480 1987 $325,000 481-550 1988 $350,000 551-625 1989 $375,000 626-705 1990 $400,000 706-785 1991 $400,000 786-870 1992 $425,000 871-960 1993 $450,000 REGISTRATION: The bonds shall be issued in bearer form with no option for registration. REDEMPTION: The district reserves the right to redeem any or all of the bonds then outstanding in inverse order of maturity and by lot within any maturity on the following interest payment dates and at the following prices expressed as a percentage of the principal amount, plus accrued interest to the date of redemption: On July 1, 1988, and on any interest payment date thereafter at a premium of One Quarter of One Percent per year, or portion thereof with a maximum not to exceed One Percent. Notice of any such intended redemption shall be given by mailing a notice thereof to Moody's Investors Service, Inc., and Standard & Poor's Corporation, New York, New York, not less than thirty (30) days prior to the redemption date, and by publication of such notice at least once, not less than thirty (30) days prior to said redemption date, in a newspaper specializing in financial matters published in the City of Portland, Oregon, and in a newspaper of general circulation in Morrow County, Oregon. Interest on any bond or bonds so called for redemption shall cease on such redemption date unless the same are not redeemed upon presentation made pursuant to such call. PAYMENT: Principal and interest are payable, either at maturity or upon earlier redemption, in lawful money of the United States at the office of the County Treasurer, Morrow County Courthouse, Heppner, Oregon 97836. PURPOSE: The bonds were authorized at a special election held within the District on March 14, 1978, to authorize bonds for the construction, reconstruction, improvement, repair and equipping of school buildings and additions thereto and to acquire or to improve all property, real and personal appurtenant thereto or connected therewith within the district. SECURITY: The bonds of this issue are general obligation bonds of the District. The district has covenanted to levy an ad valorem tax annually to pay bond principal and interest as they respectively come due. LEGAL OPINION : The legal opinion of Ragen, Roberts & O'Scannlain, Attorneys at Law, of Portland, Oregon, shall be provided at no cost to the purchaser, and will be printed on the bonds at the expense of the District. TAX EXEMPT STATUS: Interest on the bonds, in the opinion of bond counsel, is exempt from taxation by the United States under present federal income tax laws and from personal income taxation by the State of Oregon under present state law. BEST BID: The bids will be awarded to the responsible bidder whose proposal will result in the lowest net cost to the District. The successful bid will be determined by computing the total amount of interest which the District would be required to pay from the date of each bond to its respective maturity date at the coupon rate or rates specified in the bid assuming no bonds are called prior to maturity, less premium offered, if any. The purchase must pay accrued interest, computed on a 360 day basis, from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the District. DELIVERY: Delivery of the bonds will be made without cost to the successful bidder at such bank in the City of Portland, Oregon, as the successful bidder shall name, or elsewhere at purchaser's expense. Payment for the bonds must be made in federal funds. DeUverv tbe rfiade within thirty days. 0 61r' ' FORM OF BID: All bids must be for not less than all the bonds hereby offered for sale, and for not less than one hundred percent ( 100 percent ) of the par value thereof and accrued interest to the date of delivery. Each bid together with bidder's check as herein specified must be enclosed in a sealed envelope addressed to the District and designated "Proposal for Bonds." Bids must be received by 10:00o'clock a.m., Pacific Prevailing Time, at the offices of Ragen, Rogerts & O'Scannlain, 3317 First National Bank Tower, Portland, Oregon 97201. BID CHECK: All bids must be unconditional and accompanied by a certified or cashier's check on a bank doing business in the State of Oregon for Ninety Six Thousand Dollars($96,000.00) payable to the order of the District to secure the District from any loss resulting from the failure of the bidder to comply with the terms of its bid. In addition, bidders are requested to supply the total interest costs and net effective interest rate, based upon the aggregate interest cost, that the District will pay upon the issue if the bid is accepted. Such information shall be considered as informative only. Checks will be forfeited to the District as liquidated damages in case the bidder to whom the bonds are awarded shall withdraw its bid or fail to complete its pur chase in accordance with the terms thereof. No interest shall be allowed on the deposit but the check of the successful bid der will be retained as part payment of the bonds or for liquidated damages as described above. Checks of the unsuccessful bidders will be returned by -the District promptly after award of bid. RIGHT OF REJECTION: The District, by its Board, reserves the right to reject all bids. OFFICIAL STATEMENT: The District has prepared an official statement relating to the bonds, a copy of which will be furnished upon request to its financial consultant, Bartel Wells Associates, 1800 Southwest First Avenue, Portland, Oregon 97201, Telephone No. (503 ) 228-0608, or to the undersigned. CUSIP: CUSIP numbers will be imprinted upon all bonds of this issue at the purchaser's request and expense. An improperly imprinted number will not constitute basis for the purchaser to refuse to accept delivery. NO LITIGATION: At the time of payment for the delivery of said bonds, the District will furnish the successful bidder a certificate that there is no litigation pending affecting the validity of the bonds. FURTHER INFORMATION: Additional information regarding the School District and this sale may be obtained from Mattthew P. Doherty, School Superintendent, Morrow County Schools, Lexington, Oregon, 97839, Telephone Number (503 ) 989-8123. -s- Matthew P. Doherty Clerk School District No. 1 Morrow County, Oregon Published May 25, June 1, 1978. Hospital Notes Patients admitted and dis charged from Pioneer Memo rial Hospital between Tues day, May 23, and Tuesday, May 30, included Judith Meis ner, Arlington; Dreama Howell, Bryce Powell, John Campbell and Roberta Krein, all of Heppner. Three Hepp nerites admitted during the week, Leonard Schwartz, Marvin Phegley and Leonard Cumberland, remained pa tients on Tuesday. BIRTHS Two baby bundles, one pink and one blue, were delivered to Pioneer Memo rial Hospital last week. A daughter named Karissa Nan was born to parents Mr. and Mrs. Bruce Alfred Parret of Kinzua on Wednesday, May 24. She weighed in at 7 pounds 2 ounce and joins two brothers in the Parret family. Grandparents are Mr. and Mrs. Chester Koontz, Here ford; and Mr. and Mrs. Aitred Parret, Kinzua. Great-grandparents include Mr. and Mrs. Jack Mitchell, Sumpter; Mr. and Mrs. Gilbert J. Bennett, Heppner ; and Rebecca Koontz, Hereford. Karissa has one great-great-grandmother, Mrs. Ada Rains of Prairie City. Mr. and Mrs. Terry Ray Lillybridge of Heppner be came the parents of a son named Jack Benton at 11:29 a.m. on Thursday, May 25. He weighed 8 pounds 13 ounces at birth and was welcomed into the Lillybridge household by a big brother. Jack's grandparents are Mr. and Mrs. D. Vernon Russell and Mr. and Mrs. W.M. Lillybridge, all of Bre merton, Wash. His great grandmother is Mrs. C.H. Tart, Spokane, Wash. Grange rite set June 4 Rhea Creek Grange Degree team will exemplify the 5th degree for Grangers of the county on Sunday June 4 at 5 p.m. This will be followed by a pot luck supper for all attending. lone gardeners discuss iris The May meeting of the lone Garden Club was an exchange program with Stanfield Civic Iris Club. Pearl Burnett, the hostess, displayed many unusual cacti and semi-tropical plants in her greenhouse. Mrs. J.D. Corliss of Stan field gave her state award winning program "Iris, Mes senger of the Gods". "The Greek word for Iris means "rainbow" and the Greek goddess Iris, the messenger of the gods was said to have made her pilgrimage from heaven to earth on the rainbow. Irises create a rain bow of colors with a type and a variety to please everyone. They range in size from the ti ny wild ones found in our Blue Mountains to the tall beard less irises. Plant in late summer after they finish blooming. Divide every two to five years after planting." Members attending were: Jean Nelson, Edith Nichoson, Helen Martin, Delta Huber, Leila Palmer and Pat Petty john. The June 14 Garden Club meeting will be at Nancy Miller's home at Cecil, with a program on using inert mater ials as basis for landscaping. Those attending the meeting are to bring an idea using gravel, rock, old logs, bark, etc. for landscaping a yard. Classifieds 676-9228 Sell JTEFB "THAT'S MY BANK'.' First National announces two new time certificates that give you more choice in how you want to invest your money. Money Market Certificates. They're 6-month, $10,000 minimum certificates that offer a rate of interest equaling the average yield on U. S. Treasury Bills at the most recent weekly auction . call your local First National office for the exact current rate. Money Market Certificates are non-negotiable, with the same early withdrawal penalties as other time certificates. They offer investors one of our most attractive rates ever on short-term investments. 7-34 8-Year First Investment Certifi cates. We've extended our First Investment Certificate program to 8 years, with a higher 7-34 guaranteed annual rate of interest. The same $1,000 minimum and early with drawal penalty are in effect on this new certificate which offers investors higher inter est over a longer term than ever before. Other shorter term First Investment Certifi cates are also available at lower rates. Money Market Certificates and 8-Year First Investment Certificates are two more it takes for you to say, ; "That's My Bank!' 1 'rVJcr.il l;it nl ri'uuliition I'mhihn rite i-ni ot n titiu- Ji-pt'Mf prior tt maturity unk'vt thriT months iif the intorcsr irkTi'on m forfeited and inlcreM on the amount withdrawn is reduced to the regular savings rate M.-n.Ut rPli: FIRST NATIONAL BANK OF OREGON HEPPNER BRANCH MEDICAL SUPPLIES IAUHDR0MAT BEAUTY PARLOR HOME REPAIR HERMIST0N DRUG IIEPPIIIR -fags IAUHDR0MAT I nonnas Xl UMATILLA READY-MIX Free Prescription ThUSpacWMCrryr.., M.m hWiW mm)i Olnnn, Mdl Service M,.geF.rOly$i0P.rM..h 0.n W a"'iH'U"" WIDriBDAY.FRIDAYW nd t Open 9am to 7 pm 8 ' up7 Wul.M m Appomtmint not neeo'ea'... aj GHti for of occasions . Mon.-Sst. " Sun. M (ppr(M m f. A&9n , J 8:30a.m.-9:CC?.n. & 12:3Qp.m.-9p.m. 676-65393 676-9909 676-9406 9894467 TITLE INSURANCE " AUTOMOTIVE BREEDING CATTLLE " FLOOR COVERING PETROLEUM PRODUCTS Morrow County Abstract SHERRELL CHEVROLET INC. " M&R FLOOR COVERING b riU rMiiMw r -i L ADD f ARMS Carpet, Linoleum, Ceramic He, Chevron Glenn Devin fiUE NSuKs nSggU POLUDUmfOUDS itl.ch.n Ccblt, chevron USA, Inc. ESCROW SERVICE , , . 77 . , 42I-7J13 F. trtfeiatti 1 Work Currtil g5j Commission As,ent HEPPNER BOARDMAN 5??! f-"'00 m ,. " "6633 676-9912' 481-9261 3rd Moln Hermlfton . 422 Linden Way 676-9418 Heppner MACHINERY REPAIR " BUILDING SUPPLIES AUTOMOTIVE " MEDICAL SUPPLIES HOME REPAIR Miller & Sons Welding TUM-A-LUM LUMBER CO. 1K1CT A1I A T1K1 DICAl CENTER PHARMACY HOME REMODELING J.vjk- See us for c3 your buSiing svppSet. K " Aluminumoteel & Bolts in Stock We feature Boysen Pcinti. & bUUY WUKr Ksttsi ScppSei y 123Lynden Way Heppner Tim Moore, Mgr. 676-5541 Dayi 676-9440 Evei. Open Mon.-Fri., 94p.m. Sat. 9-lp.m. Storm Windows and Doors Prime 676-9613 or 676-5519 432SEDorion Pendieton n.vf npn.m located h the Mefical Center, Windows Small Remodeling jobs Open 8 6 Monday Thru Saturday QUAY 5 RtPlllll , 11 CO SoUtfeggte PftOfl 276-1531 Ken Fifield & Tars 676-5051 BARBERSHOP j OPTOMETRIST AUTOMOTIVE MONUMENTS FrilTIIIG I Millie's Barber Shop n . riIJlCEITT JONES RADIATOR SERVICE SWEENEY M03TUARY WEDDING INVITATIONS 3 DR. E.K. SCIIAFFITZ . Cemetery, Grave Ackers BUSINESS FG3MS I Cuts & Styling For Men & Women C''thU m GraTute, Marble, Bronze PillTED ENVELOPES Ho Appojntment. Next To Hotel Heppner entrance fcr over 20 year,. . Tue i.-rri. 9a.ra.-6p.in. 676-9465 Heppner 567-6916 A!j0 UrthM onf t igJn GAZETTE-TIMES S8t.9a.m.4p.ra. 1315 N. lit St. Hermiiton p.pt Box 97 Htppntr 676-9223 .SSL? jft jt"p ?tffl
