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SUCCESSFUL BID
<br />CHEMICAL BANK & TRUST CO.
<br />KEAN, TAYLOR & CO.
<br />PARK, RYAN, INC.
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<br />RESOLUTION RE:
<br />ACCEPTANCE OF BID
<br />FOR THE $1,175,000.00 CITY OF CHARLOTTESVILLE, VIRGINIA BONDS,
<br />DESCRIBED 1N THE ATTACHED kOT10E OF BOND SALE, WHICH IS HEREBY MADE
<br />A PART OF THIS BID, WE SUES".11 T THE. FOLLOWING OFFER ( THE BIDDER WILL
<br />FILI. IN ONLY ONE OF THE Tk4O ALTERNATE BIDS PROVIDED BELOW AND CROSS
<br />OUT THE OTHER):
<br />FOR THE FIRST EIGHT MATURITIES BEARING INTEREST AT THE RATE
<br />OF ONE AND THREE FOUR"THS PER CENT (14%) PER ANNUM, AND THE REMAINING
<br />TWELVE MATURITIES BEARING INTEREST AT THE RATE OF TWO PER CENT (2%)
<br />PER ANNUM.
<br />WE WILL PAY ONE OILLION, ONE HUNDRED SEVENTY-FIVE THOUSAND,
<br />THREE HUNDRED EIGHTY-SIX DOLLARS AND FIFTY-EIGHT CENTS ($1,175,3136.58),
<br />PLUS ACCRULD INTEREST FRCM THE DATE OF THE BONDS TO THE DATE OF
<br />DELIVERY,
<br />WE ENCLOSE HEREWITH A DULY CERTIFIED OR CASHIERS CHECK PAYABLE
<br />TO THE ORDER OF THE UITY TREASURER, CHARLOTTESVILLL, VIRGINIA, IN
<br />THE AMOUNT OF TWO PER CENTUM (:_'i") OF THE FACE AHOUNT OF THE SAID
<br />BONDS (VIZ: $23,500.00) WHICH CHECK I, TO BE RETURNED TO US IF THIS
<br />BID IS NOT ACCEPTED, OTHERWISE TO BE DEPOSITED BY SAID CITY TREASURER
<br />AND, WtiEN THE BONDS ARE DELIVERED AND PAID FOR UNDER THE TERMS OF
<br />THIS BID, TO BE. CONSIDERED AS PART PAYMENT THEREFOR, OR TO BE RETAINED
<br />AS AND FOR LIQUIDATED DAMAGES IN CASE WE FAIL TO TAKE UP AND PAY FOR
<br />TH'_ BONDS.
<br />SIGNED)
<br />fi1iy::�1SL_t�ANS�I_Ifillil_�fi'.
<br />BY: cNEMIg�_9r _ _I�'_s?_��
<br />pS2N9LL_�i_�'9 T>�B�S2
<br />ASSISTANT VICE PRESIDENT
<br />THE SECRETARY WAS DIRECTED TO TRANSMIT TO THE: ''OUNCIL A COPY OF THE MINUTES
<br />OF THIS MEETING, TOGETHER WITH A COPY OF THE tJOTICE OF BOND SALE.
<br />ON MOTION THE MEETING ADJOURNED.
<br />YGsf.i_�i QI�f E N.aJBi_ia_L "2!
<br />SECRETARY CHAIRMAN
<br />WE PESPECTFULLY RECOMMEND THAT YOU CONFIRM THE. ACTION 0: THE COMI:iITTEE AS
<br />ABOVE RECORDED,
<br />RESPECTFULLY SUBMITTED,
<br />FINANCE COMMITTEE
<br />?4L_ � i_W.E.I.�tIILBS��1Sa��1
<br />G u�—IS,�T E BLLj,_�1• G N E jj,),__
<br />ON
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<br />ON MOTION BY MR. WEINBERG, SECONDED BY MR. FORBES, 'THE. FOLLOWING RESOLUTION
<br />WAS UNANIMOUSLY ADOPTED:
<br />BL IT RESOLVED BY THE COUNCIL OF THE E'ITY OF CHARLOTTESVILLE,
<br />VIRGINIA THAT THE SALE OF $950,000.00 CITY OF CIARLOTTESVILLE
<br />SCHOOL IMPROVEMENT BONDS, SLRIES OF 1953, AND $225,000.00 CITv OF
<br />CHARLOTTESVILLE ,,'ATER IMPROVEMENT BONDS, SERIES OF 1949, BEARING
<br />INTEREST ON THE FIRST EIGHT M-.TURITIES AT 14;1% PER ANNUM AND ON THE
<br />REMAINING TWELVE MATURITIES BEARING INTEREST OF 21/'J' PER ANNUM, TO
<br />THE '`,HEMICAL BANK AND TRU`,T `CiOMPANY; KEAN, TAYLOR AND COMPANY AND
<br />PARK, RYAN, INC. FOR THE SUM OF ONE MILLION ONE HUNDRED SEVENTY-
<br />FIVE THOUSAND THREE HUNDRED EIGHTY-SIX DOLLARS AND FIFTY-EIGHT
<br />CENTS ($1,175,386.58), PLUS ACCRUED INTEREST FROM THE DATE OF
<br />THE BONDS TO THE DATE OF DELIVERY, AS REPORTED BY THE FINANCE
<br />COMMITTEE, BE AND THE SAME 15 HERE13Y APPROVED AND CONFIRMED.
<br />AND BE IT FU RTHLR RESOLVED THAT THE FINANCE COMMITTEE
<br />PROCEED TO HAVE SAID BONDS PREPARED AND DELIVERED TO THE
<br />SUCCESSFUL BIDDER UPON PAYMENT IN ACCCRD.ANCE WITH THE TERMS
<br />OF THE BID.
<br />ON MOTION THE MEETING ADJOURNED.
<br />\.i CLERK
<br />r
<br />--_ -r�_--PRESIDENT
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