223
<br />
<br />RESOLUTION RE: ACCEPTANCE
<br />or BID
<br />
<br />IMPROVEMENT BONDS, SERIES OF 1963, DESCRIBED IN THE ATTACHED NOTICE OF BOND
<br />SALE', WHICH IS HEREBY MADE A PART OF THIS BID, WE SUBMIT THE FOLLOWING OFFER:
<br />
<br />FOR THE ,3,500,000.00 CITY OF CHARLOTTESVILLE, VIRGINIA~ SCHOOL
<br />IMPROVEMENT BONDS, SERIES OF 1963~ DATED JUNE 1, 1964 AND MATURING ON
<br />JUNE IST IN EACH YEAR, AND BEARING INTEREST AS FOLLOWS:
<br />
<br />YEAR OF PRINCIPAL INTEREST YEAR OF INTEREST
<br />MATURITY AMOUNT RATE MATURITY PRINCIPAL AMOUNT RATE
<br />
<br />3965 ,175,000.00 3 1~4%' 1975 '175,000.00 2.80~
<br />1966 ,175,000.00 3 1/4% 1976 ,175,000.00 2.90~
<br />1967 ,175,000.00 3 1/4% 1977 ,175,000.00 2.90~
<br />1968 ,175,000.00 3 1/4% 1978 ,175,000.00 2.90~
<br />1969 ,t75,000.00 3 1/4% 1979 ,175,000;00 2.90~
<br />1970 ,175.000.00 2.80~ 1980 ,175,000.00 3.00~
<br />1971 9175,000.00 2~80% 1981 ,175,000.00 3.00~
<br />1972 ,175,000.00 2.80% 1982 ,175.000.00 3.00%
<br />1973 ,175,000.00 2.80~ 1983 ,175,000.00 3.00°~
<br />1974 ,175,000.00 2.80~ 1984 ,175,000.00 3.00~
<br />
<br />WE WILL PAY THE SUM OF THREE MILLION FIVE HUNDRED THREE THOUSAND FORTY FIVE
<br />AND 00/100 (,3,503,045.00) PLUS ACCRUED INTEREST FROM THE DATE OF THE BONDS
<br />TO THE DATE OF DELIVERY.
<br />
<br /> WE ENCLOSE HEREWITH A DULY CERTIFIED OR CASHIERtS OR TREASURER'S CHECK
<br />UPON AN INCORPORATED BANK OR TRUST COMPANY PAYABLE TO THE ORDER OF THE CITY
<br />TREASURER, CHARLOTTESVILLE, VIRGINIA~ IN THE AMOUNT OF TWO PER CENT (2~) OF
<br />THE FACE AMOUNT OF THE SAID BONDS (VIZ: '70~000.00) WHICH CHECK IS TO BE
<br />RETURNED TO US IF THIS BID IS NOT ACCEPTED, OTHERWISE TO BE DEPOSITED BY
<br />SAID CITY TREASURER AND, WHEN THE BONDS ARE DELIVERED AND PAID FOR UNDER THE
<br />TERNS OF THIS BIDj TO BE CONSIDERED AS PART PAYMENT THEREFORj OR TO BE
<br />RETAINED AS AND FOR LIQUIDATED DAMAGES IN CASE WE FAIL TO TAKE UP AND PAY
<br />FOR THE BONDS.
<br />
<br />ALL PROPOSALS SHOULD BE ADDRESSED TO:
<br />
<br />THE CITY MANAGER
<br />CITY OF CHARLOTTESVILLE~ VA.
<br />P. O. Box 911
<br />CHARLOTTESVILLE~ VIRGINIA
<br />
<br />OR IF DELIVERED IN PERSON TOt
<br />
<br />CITY MANAGERtS OFFICE.
<br />SECOND FLOOR - CITY HALL
<br />CHARLOTTESVILLE, VIRGINIA
<br />
<br />SIGNED WERTHEIN & Co. (MANAGER)
<br />
<br />DEAN WITTER & Co.
<br />
<br />HENPHILL~ NOYES & Co.
<br />GOODBODY & Co,
<br />
<br />J. C. BRADFORD & Co.
<br />
<br />TU. CKE% ANTHONY & R. L. DAY
<br />
<br />BY WERTHEIM & Coo
<br />
<br />J. C. FiTTERER
<br />
<br />RESPECTFULLY RECOMMEND THAT YOU CONFIRM MY ACCEPTANCE OF THE ABOVE
<br />
<br />BID.
<br />
<br />RESPECTFULLY SUBMITTED~
<br />
<br />(SIGNED) JAS. E. BOWEN, JR.
<br />
<br />CITY MANAGER
<br />
<br />ON NOTION BY MR. SCRIBNER~ SECONDED BY MR. MOUNT, THE FOLLOWING RESOLUTION
<br />
<br />WAS UNANIMOUSLY ADOPTED:
<br />
<br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE,
<br />VIRGINIA, THAT THE SALE OF *3~500, O00. O0:CITY OF CHARLOTTESVILLE~
<br />SCHOOL IMPROVEMENT BONDS, SERIES OF 1963, BEARING INTEREST ON THE
<br />FIRST 5 MATURITIES AT THE RATE OF 3.25~ PER ANNUM, ON THE NEXT 6
<br />MATURITIES AT THE RATE OF ~.80~ PER ANNUM~ ON THE NEXT 4 MATURITIES
<br />AT THE RATE OF 2.90~ PER ANNUN~ AND ON THE NEXT 5 MATURITIES AT THE
<br />RATE OF 3o00~ PER ANNUM FOR THE SUM OF '3,503~045.00 PLUS ACCRUED
<br />INTEREST FROM THE DATE OF THE BONDS TO THE DATE OF DELIVERY~ AS
<br />REPORTED BY THE CITY MANAGER~ BE AND THE SAME IS HEREBY APPROVED
<br />AND CONFIRMED.
<br />
<br /> AND BE IT F~THER RESOLVED THAT THE CITY MANAGER PROCEED TO
<br />HAVE SAID BONDS PREPARED AND DELIVERED TO THE SUCCESSFUL-BIDDER
<br />UPON PAYMENT IN ACCORDANCE WITH THE TERNS OF THE BID.
<br />
<br />ON NOTION THE MEETING ADJOURNED.
<br />
<br />CLERK
<br />
<br />COUNCIL CHAMBER - JUNE 1~ 1964
<br />
<br /> THE COUNCIL MET IN REGULAR SESSION ON THIS DATE WITH THE FOLLOWING MEMBERS
<br />
<br />PRESENT: MR. HAGGERTY~ HR. LEE, HR. MOUNT, MR. PONTON AND HR. SCRIBNER. ABSENT: NONE.
<br />
<br /> THE MINUTES OF THE MEETINGS OF MAY 18~ 1964 AND ~AY 19~ 1964 WERE READ AND APPROVED.
<br />
<br />
<br />
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