August 6, 1975 (8 pages)

; i { i Avigust 6, 1975 Wed., The Nevada County Nugget 3 . PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE(Form for Bonds of Series A) OFFICIAL NOTICE OF SALE OF SCHOOL DISTRICT BONDS NOTICE IS HEREBY GIVEN that sealed roposals will be received by the Board of Supervisors of the ‘ounty of Nevada, State of California, at the office of the County Clerk and ex-officio clerk of the Board of Supervisors in the Courthouse, City of Nevada City in said County, California, on Tuesday the 26th day of August, 1975, at the hour of 1:30 o’clock P.M. for the purchase of bonds of Union Hill Schoo! District, of Nevada County, State of California, more particularly described below. ISSUE: $218,000, 1975 School Bonds, Series A, consisting of 46 bonds of the denomination of 1,000 & 5,000 each, numbered A-1 to A4 inclusive (herein called the ‘‘bonds’’). The bonds are part of an authorized issue in the aggregate principal amount of $225,000. The remaining $7,000 principal amount of said authorized issue may be sold when and_.as determined by the Board of Supervisors, but it is anticipated will not be offered for sale prior to eptember 1, 1976. DATE: All of the bonds are dated September 1, 1975. INTEREST RATE: Maximum 7 per cent per annum, payable annually for the first year on September 1,°1976, and semi-annually thereafter on March 1 and September 1 in.each year. Bidders must specify the rate or rates of interest which the bonds shall bear. Bidders may er any number of separate interest rates irrespective of the maturities of the bonds and the same rate or rates may be repeated as often as desired; provided that: (i) each interest rate specified in any bid must be ina multiple of Ye or 1-20th of one per cent and a zero rate of interest cannot be specified; (ii) no bond shall bear more than one rate of interest, no interest payment shall be evidenced by more than, one coupon and supplemental coupons will not be permitted;-i™) each bond shall bear interest from its date to its stated maturity. date at the interest rate specified in the bid; (iv) any premium must be paid inybank funds as part of the purchase price and no bid will be accépted which contemplates the cancellation of any interest coupons or the waiver of any interest or other concession by the bidder as a substitute for payment in full of the purchase price in bank funds. Bids which do not conform to the terms of this paragraph will be rejected. MATURITIES: The bonds mature serially in consecutive numerical order from lower to higher (without option of prior redemption) as follows: . MATURITY Bond No. PRINCIPAL DATES (inclusive) AMOUNT September 1 5 $ 3,000 1976 4-6 $15,000 _ 1976 7-9 $15,000 1977 10-12 $15,000 1978 13-16 $20,000 1979 17-20 $20,000 1980 21-24 $20,000 1981 25-29 $25,000 1982 30-35 $30,000 1983 36-41 $30,000 1984 : 42-46 $25,000 1985 PAYMENT: Both the principal and interest are payable in lawful money of the United States of America at the San Francisco Main Office of Bank.of America National Trust and Savings Association, in the City and County of San Francisco, State of California, or at the option of the holder at the respective offices of the paying: agents of said County in the City of New York, or in the City of: Chicago, State of Illinois. ; EXECUTION AND REGISTRATION: Coupon bonds will_be issued Y the Board of Supervisors on behalf of the district. The bonds will be executed by the manual signature of at least one official authorized to execute the bonds. The bonds are registrable only as to both principal and interest. PURPOSE OF ISSUE: The bonds were authorized by more than two-thirds of the voters voting ‘at an election held in the district on November 5, 1974 and will be issued and sold for the purpose of raising money for authorized school purposes. SECURITY: The bonds are general ool iaetiogs of the district, and the Board of Supervisors has power and is obligated to levy ad valorem taxes for the payment of the bonds and the interest thereon upon all property within the district subject to taxation by the district (except certain personal property, which is taxable at limited rates), without limitation of rate or amount. TAX EXEMPT STATUS: In the event that prior to the delivery of the bonds (a) the income received by any private holder from bonds of the same type and character shall be declared to be taxable (either at the time of such declaration or at any future date) under any federal income tax laws, either by the terms of such laws or by ruling of a federal income tax authority or official which is followed by the Internal Revenue Service, or by decision of any federal court, or (b) any federal income tax law is adopted which will hav2 a substantial adverse tax effect on holders of the bonds as such the successful bidder may, at his option, prior to the tender of the nds by the Board of Supervisors be relieved of his obligation u: or the contract to purchase the bonds and in such casetheder ‘accompanying his bid will be returned. ~LEGAL NION: The legal opinion of the following firm, apRene th _ulidity of the bonds, will be furnished to the successful idder w' .ut charge: Orrick, Herrington, Rowley & Sutcliffe, San Francis¢ Acop; _ ihe legal opinion, certified by the official in whose office the origi ~ai is filed, will be printed on each bond without charge to the successful bidder. TERMS OF SALE HIGHEST BIDDER: The bonds will be awarded to the highest responsible bidder or bidders considering the interest rate or rates specified and the premium offered, if pe The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the district would be required to pay from the date of the bonds to their respective maturity dates at the coupon rate or rates specified in the bid and the award will be made on the basis of the lowest net interest cost to the district. The lowest net interest cost shall be computed on a 360day year basis. The purchaser must pay accrued interest from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the district. RIGHT OF REJECTION: The Board of Supervisors reserves the right in its discretion to reject any and all bids and to waive any irregularity or informality in aGy bid. PROMPT AWARD: The Board of Supervisors will take action awarding the bonds or rejecting all bids not later than 24 hours:after the. expiration of the time herein prescribed for receipt of abc lly unless such time of award is waived by the successful idder.PROMPT DELIVERY: Delivery of the bonds will be made to the successful bidder at he office o County as soon as the bonds can be will be within 30 days from the date of sale, but not prior to the date] :. of the bonds. the County Treasurer of said} prepared which it is estimated RIGHT OF CANCELLATION: The successful bidder shall have the right, at his option, to cancel the contract of purchase if the bonds are not tendered for delivery within 60 days from the date of sale thereof, and in such event the successful bidder shall be entitled to the return of the deposit accompanying his bid. FORM OF BID: All bids must be for not less than all of the bonds hereby offered for sale, and for not less than the par value thereof and accrued interest to date of delivery. Each bid, bidder’s check, must be enclosed in a sealed envelope addressed to the Board of Supervisors of said County, and endorsed “‘Proposal for School Bonds of Union Hill School District, of Nevada County.” . Bid to show dollar value of interest. . BID CHECK: With each bid must be submitted a certified check or cashier's check for $2,000, drawn on a bank or trust company transacting business in the State of California, payable to the order . of the County Treasurer, to secure the district from any loss resulting from the failure of the bidder to comply with the terms of his bid. In addition bidders are requested (but not required) to supply an estimate of the total net interest cost to the district on the basis of their respective bids, which shall be considered as informative only and not binding on either the bidder or the district. Checks of the unsuccessful bidders will be returned by the County Clerk by mail, upon the award of the bonds. No interest will be paid upon deposit made by any bidder. : There is no litigation pending concerning the validity of the above issue, the corporate existence of the district, or the title of ‘ together with . the officers to their respective offices and the Board of Supervisors will deliver to the successful bidder a no-litigation certificate certifying to the foregoing as of and at the time of the delivery of _the bonds. Dated: July 29, esr HEO. A. KOHLER, JR. County Clerk and Ex-officio Clerk of the Board of Supervisors of Nevada County, State of California Dates of Publication: August 6 and 13, 1975. y Gene Align Wheels $9.95 Rotate & Balance All Four Tires $4.00 Additional . RECAPPING SERVICE PLAZA TIRE €O., INC. BEHIND SPD 265-4642 a Len Gilbert FARMERS INSURANCE GROUP} HEFFREN INSURANCE AGENCY t 11 W. Main P.O Box 1034} Grass Valley, Ca. 265-6166 Want ads Pay Classified ads work Taxpayers opposes pay raise Enactment of legislation to give all high salary federal Officials automatic cost of living salary increases was opposed today by Kirk West, executive vice president of the California’ Taxpayers’ Association. In a letter to President Gerald Ford, West said, ‘‘We believe automatic cost of living increases for those federal officials who are already the most highly paid will further widen the gap in inflation-caused income losses between the private and public sector, will adversely affect the competitive position of state and local government in comparison with the federal government in hiring public sector executives, and will make federal elected officials less personally aware of what inflation is doing to the purCYA term for Grass Valley youth An 18 year old Grass Valley youth, who walked away from the county jail while serving time for a misdemeanor burglary conviction, has been sentenced to the California Youth Authority. Superior Court Harold Wolters Thursday denied probation to Kenneth Ray Ewing and ordered him remanded to the custody of the sheriff pending his acceptance by the CYA. . Ewing earlier had pleaded guilty to escaping from the jail in June. He was emptying trash in the lower area of the premises. §. .; Judge . jail. when -he departed the chasing power of their constituents.”’ West urged President Ford to reconsider what the press has reported to be his support for the proposed legislation. “Our concern is that when lawmakers are themselves insulated against the ravages of inflation, it is inevitable they will sense less vividly its impact on ordinary citizens. You might be faced with a Congress which is_ less responsive to anti-inflationary proposals,’’ West said. “Additionally, up to this time, Congress has had to vote its own salary increases. This requires they be justified as deliberate actions. We believe such a system is consistent with representative government -more so_ than automatic increases would be.’”’ . e BECKY HISCOX was honored recently with a bronze medal award from the Golden Empire Chapter of the Heart Association for her volunteer work -including organizing the cyclethon and co-chairing the annual food sale. Those receiving certificates for their volunteer work included Gary Wilson; local nurses Pat Shea, Marilyn Rayner, Pat Brown, Marty Mosac, Rivana Fitzgerald, Rosemary Farley, Reggy Nadin and . Shirley Dicard., Suzie Nobles .is. Nevada City membership chdirperson. * eee ee q PCR ee yay FH HD er Se o¢ tv+3 A Sigs

; i { i Avigust 6, 1975 Wed., The Nevada County Nugget 3 . PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE PUBLIC NOTICE(Form for Bonds of Series A) OFFICIAL NOTICE OF SALE OF SCHOOL DISTRICT BONDS NOTICE IS HEREBY GIVEN that sealed roposals will be received by the Board of Supervisors of the ‘ounty of Nevada, State of California, at the office of the County Clerk and ex-officio clerk of the Board of Supervisors in the Courthouse, City of Nevada City in said County, California, on Tuesday the 26th day of August, 1975, at the hour of 1:30 o’clock P.M. for the purchase of bonds of Union Hill Schoo! District, of Nevada County, State of California, more particularly described below. ISSUE: $218,000, 1975 School Bonds, Series A, consisting of 46 bonds of the denomination of 1,000 & 5,000 each, numbered A-1 to A4 inclusive (herein called the ‘‘bonds’’). The bonds are part of an authorized issue in the aggregate principal amount of $225,000. The remaining $7,000 principal amount of said authorized issue may be sold when and_.as determined by the Board of Supervisors, but it is anticipated will not be offered for sale prior to eptember 1, 1976. DATE: All of the bonds are dated September 1, 1975. INTEREST RATE: Maximum 7 per cent per annum, payable annually for the first year on September 1,°1976, and semi-annually thereafter on March 1 and September 1 in.each year. Bidders must specify the rate or rates of interest which the bonds shall bear. Bidders may er any number of separate interest rates irrespective of the maturities of the bonds and the same rate or rates may be repeated as often as desired; provided that: (i) each interest rate specified in any bid must be ina multiple of Ye or 1-20th of one per cent and a zero rate of interest cannot be specified; (ii) no bond shall bear more than one rate of interest, no interest payment shall be evidenced by more than, one coupon and supplemental coupons will not be permitted;-i™) each bond shall bear interest from its date to its stated maturity. date at the interest rate specified in the bid; (iv) any premium must be paid inybank funds as part of the purchase price and no bid will be accépted which contemplates the cancellation of any interest coupons or the waiver of any interest or other concession by the bidder as a substitute for payment in full of the purchase price in bank funds. Bids which do not conform to the terms of this paragraph will be rejected. MATURITIES: The bonds mature serially in consecutive numerical order from lower to higher (without option of prior redemption) as follows: . MATURITY Bond No. PRINCIPAL DATES (inclusive) AMOUNT September 1 5 $ 3,000 1976 4-6 $15,000 _ 1976 7-9 $15,000 1977 10-12 $15,000 1978 13-16 $20,000 1979 17-20 $20,000 1980 21-24 $20,000 1981 25-29 $25,000 1982 30-35 $30,000 1983 36-41 $30,000 1984 : 42-46 $25,000 1985 PAYMENT: Both the principal and interest are payable in lawful money of the United States of America at the San Francisco Main Office of Bank.of America National Trust and Savings Association, in the City and County of San Francisco, State of California, or at the option of the holder at the respective offices of the paying: agents of said County in the City of New York, or in the City of: Chicago, State of Illinois. ; EXECUTION AND REGISTRATION: Coupon bonds will_be issued Y the Board of Supervisors on behalf of the district. The bonds will be executed by the manual signature of at least one official authorized to execute the bonds. The bonds are registrable only as to both principal and interest. PURPOSE OF ISSUE: The bonds were authorized by more than two-thirds of the voters voting ‘at an election held in the district on November 5, 1974 and will be issued and sold for the purpose of raising money for authorized school purposes. SECURITY: The bonds are general ool iaetiogs of the district, and the Board of Supervisors has power and is obligated to levy ad valorem taxes for the payment of the bonds and the interest thereon upon all property within the district subject to taxation by the district (except certain personal property, which is taxable at limited rates), without limitation of rate or amount. TAX EXEMPT STATUS: In the event that prior to the delivery of the bonds (a) the income received by any private holder from bonds of the same type and character shall be declared to be taxable (either at the time of such declaration or at any future date) under any federal income tax laws, either by the terms of such laws or by ruling of a federal income tax authority or official which is followed by the Internal Revenue Service, or by decision of any federal court, or (b) any federal income tax law is adopted which will hav2 a substantial adverse tax effect on holders of the bonds as such the successful bidder may, at his option, prior to the tender of the nds by the Board of Supervisors be relieved of his obligation u: or the contract to purchase the bonds and in such casetheder ‘accompanying his bid will be returned. ~LEGAL NION: The legal opinion of the following firm, apRene th _ulidity of the bonds, will be furnished to the successful idder w' .ut charge: Orrick, Herrington, Rowley & Sutcliffe, San Francis¢ Acop; _ ihe legal opinion, certified by the official in whose office the origi ~ai is filed, will be printed on each bond without charge to the successful bidder. TERMS OF SALE HIGHEST BIDDER: The bonds will be awarded to the highest responsible bidder or bidders considering the interest rate or rates specified and the premium offered, if pe The highest bid will be determined by deducting the amount of the premium bid (if any) from the total amount of interest which the district would be required to pay from the date of the bonds to their respective maturity dates at the coupon rate or rates specified in the bid and the award will be made on the basis of the lowest net interest cost to the district. The lowest net interest cost shall be computed on a 360day year basis. The purchaser must pay accrued interest from the date of the bonds to the date of delivery. The cost of printing the bonds will be borne by the district. RIGHT OF REJECTION: The Board of Supervisors reserves the right in its discretion to reject any and all bids and to waive any irregularity or informality in aGy bid. PROMPT AWARD: The Board of Supervisors will take action awarding the bonds or rejecting all bids not later than 24 hours:after the. expiration of the time herein prescribed for receipt of abc lly unless such time of award is waived by the successful idder.PROMPT DELIVERY: Delivery of the bonds will be made to the successful bidder at he office o County as soon as the bonds can be will be within 30 days from the date of sale, but not prior to the date] :. of the bonds. the County Treasurer of said} prepared which it is estimated RIGHT OF CANCELLATION: The successful bidder shall have the right, at his option, to cancel the contract of purchase if the bonds are not tendered for delivery within 60 days from the date of sale thereof, and in such event the successful bidder shall be entitled to the return of the deposit accompanying his bid. FORM OF BID: All bids must be for not less than all of the bonds

hereby offered for sale, and for not less than the par value thereof and accrued interest to date of delivery. Each bid, bidder’s check, must be enclosed in a sealed envelope addressed to the Board of Supervisors of said County, and endorsed “‘Proposal for School Bonds of Union Hill School District, of Nevada County.” . Bid to show dollar value of interest. . BID CHECK: With each bid must be submitted a certified check or cashier's check for $2,000, drawn on a bank or trust company transacting business in the State of California, payable to the order . of the County Treasurer, to secure the district from any loss resulting from the failure of the bidder to comply with the terms of his bid. In addition bidders are requested (but not required) to supply an estimate of the total net interest cost to the district on the basis of their respective bids, which shall be considered as informative only and not binding on either the bidder or the district. Checks of the unsuccessful bidders will be returned by the County Clerk by mail, upon the award of the bonds. No interest will be paid upon deposit made by any bidder. : There is no litigation pending concerning the validity of the above issue, the corporate existence of the district, or the title of ‘ together with . the officers to their respective offices and the Board of Supervisors will deliver to the successful bidder a no-litigation certificate certifying to the foregoing as of and at the time of the delivery of _the bonds. Dated: July 29, esr HEO. A. KOHLER, JR. County Clerk and Ex-officio Clerk of the Board of Supervisors of Nevada County, State of California Dates of Publication: August 6 and 13, 1975. y Gene Align Wheels $9.95 Rotate & Balance All Four Tires $4.00 Additional . RECAPPING SERVICE PLAZA TIRE €O., INC. BEHIND SPD 265-4642 a Len Gilbert FARMERS INSURANCE GROUP} HEFFREN INSURANCE AGENCY t 11 W. Main P.O Box 1034} Grass Valley, Ca. 265-6166 Want ads Pay Classified ads work Taxpayers opposes pay raise Enactment of legislation to give all high salary federal Officials automatic cost of living salary increases was opposed today by Kirk West, executive vice president of the California’ Taxpayers’ Association. In a letter to President Gerald Ford, West said, ‘‘We believe automatic cost of living increases for those federal officials who are already the most highly paid will further widen the gap in inflation-caused income losses between the private and public sector, will adversely affect the competitive position of state and local government in comparison with the federal government in hiring public sector executives, and will make federal elected officials less personally aware of what inflation is doing to the purCYA term for Grass Valley youth An 18 year old Grass Valley youth, who walked away from the county jail while serving time for a misdemeanor burglary conviction, has been sentenced to the California Youth Authority. Superior Court Harold Wolters Thursday denied probation to Kenneth Ray Ewing and ordered him remanded to the custody of the sheriff pending his acceptance by the CYA. . Ewing earlier had pleaded guilty to escaping from the jail in June. He was emptying trash in the lower area of the premises. §. ..; Judge . jail. when -he departed the chasing power of their constituents.”’ West urged President Ford to reconsider what the press has reported to be his support for the proposed legislation. “Our concern is that when lawmakers are themselves insulated against the ravages of inflation, it is inevitable they will sense less vividly its impact on ordinary citizens. You might be faced with a Congress which is_ less responsive to anti-inflationary proposals,’’ West said. “Additionally, up to this time, Congress has had to vote its own salary increases. This requires they be justified as deliberate actions. We believe such a system is consistent with representative government -more so_ than automatic increases would be.’”’ . e BECKY HISCOX was honored recently with a bronze medal award from the Golden Empire Chapter of the Heart Association for her volunteer work -including organizing the cyclethon and co-chairing the annual food sale. Those receiving certificates for their volunteer work included Gary Wilson; local nurses Pat Shea, Marilyn Rayner, Pat Brown, Marty Mosac, Rivana Fitzgerald, Rosemary Farley, Reggy Nadin and . Shirley Dicard., Suzie Nobles .is. Nevada City membership chdirperson. * eee ee q PCR ee yay FH HD er Se o¢ tv+3 A Sigs