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Awarding of Bid -
<br />Mason-Hagan, Inc.
<br />
<br /> BIDDER
<br />
<br />First National
<br />Exchange Bank
<br />
<br />INTEREST RATE
<br />
<br />~O~T
<br />
<br /> First 4 maturities 6.00%
<br /> Next 2 maturities 5.00%
<br /> Next 1 maturities 5.30%
<br /> Next 1 maturities 5.40%
<br /> Next 2 maturities 5.50%
<br /> Next 1 maturities 5.70% $3,000,031.50
<br /> Next 1 maturities 5.80%
<br /> Next 1 maturities 5.90%
<br /> Next 1 maturities 6.00%
<br /> Next 2 maturities 6.10%
<br /> Next 2 maturities 6.20%
<br /> Next 2 maturities 6.25%
<br /> Mr. Hendrix reported that after consideration of the above bids,
<br />he determined that the following bid by Craigie, Mason-Ha§an, Inc.
<br />was the best bid received, and recommended acceptance of this bid.
<br />
<br />June 24, 1975
<br />
<br />The City Manager
<br />City of Charlottesville
<br />City Hall
<br />Charlottesville, Virginia
<br />
<br />Dear Sir:
<br /> For the $3,000,000.00 City of Charlottesville, Virginia,
<br />General Improvement Bonds, Series of 1975, described in the
<br />attached Notice of Bond Sale, which is hereby made a part of
<br />this bid, we submit the following offer:
<br /> For the $3,000,000.00 City of Charlottesville, Virginia,
<br />General Improvement Bonds, Series of 1975, dated July 1, 1975
<br />and maturing on July 1st in each year, and bearing interest as
<br />
<br />follows:
<br />
<br />Year of Principal Interest Year of Rrincipal Interest
<br />Maturity. Amount Rate Maturit~ Amount Rate
<br />
<br />1976 $150,000.00 6.70% 1986 $150,000.00 5.35%
<br />1977 $150,000.00 6.70% 1987 $150,000.00 5.45%
<br />1978 $150,000.00 6.70% 1988 $150,000.00 5.55%
<br />1979 $150,000.00 6.00% 1989 $150,000.00 5.65%
<br />1980 $150,000.00 4.70% 1990 $150,000.00 5.70%
<br />1981 $150,000.00 4.85% 1991 $150,000.00 5.75%
<br />1982 $150,000.00 5.00% 1992 $150,000.00 5.80%
<br />1983 $150,000.00 5.10% 1993 $150,000.00 5.85%
<br />1984 $150,000.00 5.20% 1994 $150,000.00 5.90%
<br />1985 $150,000.00 5.30% 1995 $150,000.00 5.90%
<br />
<br />We will pay the sum of Three Million Dollars ....
<br />$3,000,000.00
<br />Plus accured interest from the ate of the bonds to the date of delivery.
<br /> We enclosed herewith a duly certified or cashier's or treasurer's
<br />check upon an incorporated bank or Trust Company payable to the order
<br />of City Treasurer, Charlottesville, Virginia, in the amount of two
<br />per cent (2%) of the face amount of the said bonds (viz: $60,000.00)
<br />which check is to be returned to us if this bid is not accepted, other-
<br />wise to be deposited by said City Treasurer and, when the bonds are
<br />deliver~ed and paid for under the terms of this bid, to be considered
<br />as part payment therefor, or to be retained as and for liquidated
<br />damages in case we fail to take up and pay for the bonds.
<br />
<br />Ail proposals should be addressed to:
<br />City City Manager (signed)CRAIGIE, MASON-~AGAN, INC.
<br />
<br />City'~of CharlOttesville, Va. VIRGINIA NATIONAL BANK
<br />
<br />P. O. Box 911
<br />
<br />Charlottesville, Virginia 22902
<br />
<br />Or if delivered in person to:
<br />
<br />City Manager's Office
<br />Second Floor -- City Hall
<br />Charlottesville, Virginia
<br />
<br />FIRST &MERCHANTS NATIONAL BANK
<br />HORNER, BARKSDALE & COMPANY
<br />
<br />DAVENPORT & COMPANY OF VIRGINI~
<br />INC.
<br />
<br />NATIONAL BANK & TRUST COMPANY
<br />
<br />BY LANGHORNE GIBSON, JR.
<br />
<br />EXECUTIVE V. P.
<br />
<br />For infomation only and not a part of this bid -- the average net
<br />interest cost of the City on the above bid is 5.6161%.
<br />
<br />
<br />
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