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
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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
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Mdl Service M,.geF.rOly$i0P.rM..h 0.n W a"'iH'U"" WIDriBDAY.FRIDAYW nd t
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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
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