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FOR 1'HE $1,175,UCC.UU CITY OF CHARLO'fTESVIP_.LC, VIRGItJIA BOtJDS,
<br />DESCRIBED 1 N THE ATTACHED I`~OT 1 CE OF BOtJD SALE, 4JH I CH IS HEREBY h4ADE
<br />A PART OF Ti! I S e I C, 41E SUESt.1 I T TIiE- FOLI_04J I N`v' OFFE.R (THE B 1 UUER WILL
<br />FILI. IN ONLY ONE OF THE T4JU AI_TERMATE BIDS PROVIDED BELOW AND CROSS
<br />OUT 7HE OTHERj:
<br />SUCCESSFUL BID
<br />CHEtfICAL BANK & TRUST CO.
<br />KEAN, TAYLOE2 ~ CD.
<br />PARK, RvgrJ, INC.
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<br />RESOLUTION RE;
<br />t+CCEPTANCE GF riD
<br />FOR 7HE FIRST EIGH3 tdATURITIES BEARING INfE,REST AT TtJE RATE
<br />OF ONE AidD THREE FOUF? i'HS PER CENT (1gM i PC F2 ANNUTA, ANU THE REMA I N I NG
<br />TWELVE 1.7ATURITIES BEARING INTEREST AT THE Rn.TE OF 'fW0 PER CENT (2~)
<br />PER ANNUtA.
<br />;'~E WILL PAY ONE I'~ILI_ION, ONE I~UNDRED SEVENTY-FIVE THOUSAND,
<br />THREE fIUNDRED EIGHTY-SIX DOLLARS AND FIFTY-EIGHT CENTS ($1,175,356.58),
<br />PLU5 ACCRIJLD INTEREST FROM THE DATE OF TFiE ESONDS TO THE DATE OF
<br />DEL i VEP.Y.
<br />t'IE ENCLOSE HEREWITH A DULY CERTIFIED OR CASHIERS CHECK PAYABLE
<br />TO T HF:: ORDER OF THE: ~' I TY TREASURER, CHARLOTTE SV 11_I_E, 1°J 1 RG I tJ I A, I N
<br />THE AhdOUNT OF TWO PER CEPJTUM (:_'~~ OF THE FACE. AtaOUNT OF THE SAID
<br />BUNDS (VIZ: $23,5pQ~QU) 'rJIi1C.H CHECK I> TO BE RETUt2r1ED TO US IF THIS
<br />BID IS NOT ACCF_pTED, 07HERWISE TG BE DEt'OSITED BY SAID CITY TREASURER
<br />AND, 4JtiEN THE BONUS ARE DELIVERED AND PAlD FOR E,"NDER THE 'fERt+iS OF
<br />TH 1 S BID, 7~~ [S F. CANS I DERED AS PART PAYt4ENT THE REFOi;, OR TO BE RE7A I NED
<br />AS n.ND FUR LIQUIDATED DAMAGES IN CASE tdE FAIL TC TAKE UP AND PAY FOR
<br />TH!_ BONDS.
<br />(S 1 SNE D ~ fi~iy::~1S~L_t~ANS~t_Ifillil_~fi'..
<br />I~EtnnaEr~~~} Tn~ ~~~ 4L_& c4~~_~
<br />pS2N9L12_~~_~'95~.6~52 N____--
<br />~+SSISTAh1T VICE PRESIDENT
<br />THE SECRETARY WAS DIRECTED TO TRA?JSt•i I T TC THE: ~'OUNC I L A COPY OF THE MINUTES
<br />Or THIS tdEETING, TGGETHER WITH A COPY OF THE IJOTICE GF BOND SALE.
<br />ON MOTION THE iAEETING ADJOURNED.
<br />~8.~~_~.. Bg~ErJ"~8~~~.1~at~€~1 SQL_B~~1~EB~_.~~1~L~
<br />SECRETARY CHAIRMAN
<br />~+IE NE5PECTFULt_Y RECOtdh•tEND THAT YOU CCNF I RM THE ACTION O: THE C{)hV:i I TTEF_ AS
<br />ABO`JE RECORDED.
<br />RESpECTFULI_Y SUBt~11TTED,
<br />F I FJJiP~CE COMMITTEE
<br />?4L_ ~ ~W.E.1..4t.11L8S~~1Sa~~1
<br />G u~-IS,~T E BLLj,_~1, G N E jj,~,__
<br />OtJ FdOT I ON BY MR. '~dE I NBERG, SECONDED BY MR, FORBES, 'THf. FOLL04J ING RESOL.UT I OtJ
<br />WAS UNAN I f.10USLY ADOPTED:
<br />BL IT RESOLVED BY THE CGUNCIL OF THE ~'ITY OF LHARLOiTESVItI_E,
<br />VIRGItJIA THAT THE SALE OF $950,~OO.UO CITY OF CHARLOTTESVILLE
<br />SCti00L I1.IPROVEMENT BOND:i, ;CRIES OF 1953, AND $225,000.OG CITY OF
<br />CHARLOTTESVILLE ~,~ATER IMPROVEMENT BONDS, SERIES OF 1949, BARING
<br />I NTERES7 O!V THE FIRST E 13HT td-.TUR i T 1 ES AT 1y~ PF R ArJtJUh7 ..ND ON THE
<br />REtdA I N I NG TWELVE M.^, 'ft.JR I T 1 ES BEAR 1 NG INTEREST OF 2~ PE F2 ANNUtA, 70
<br />THE '`,HEb11CAL BANK AND TRU1iT `~i:~F-0PANY~ KEAN, TAYLOR AND COt•1pANY AND
<br />PARK, RYAN, INC. FOR THE SUM OF ONE MILLION ONE HUNDRED SEVENTY-
<br />F I VE TH(3U5AND THREE I~UNUREU E IGHTY-S 1 X DOLLARS AND FIFTY-EIGHT
<br />TENTS ($1,175,386.58, PLUS ACCRUED INTEREST FROM THE DATE OF
<br />THE BOPJDS TO THF_ DATE OF DELIVERY, AS REPORTED BY THE FINANCE
<br />Ot~itdITTEE, BE AND THE SAME IS HEREBY APPROVED AND CONFIftt.1ED.
<br />Alv~~ PE IT F!1RTHER RESOLVED THAT THE FINANCE COl+it•IITTEE
<br />PROCr.ED TO HAVE SAID HOrJDS PREPARED AND DE.LIVE_REU TO THE
<br />SUCCESSFUL BIDDER UPOhJ PAYMENT I N ACCCRb.AP!CE WITH THE TE RFAS
<br />OF THE BID.
<br />ON r•IOTION THE MEETING ADJOURNED.
<br />\~ CLERK
<br />r
<br />-__ _r~_-_P RR E S I D E N T Mr~
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