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<br />B1i2P~B LN?~B~E~I_ReZ,E AMOUMI
<br />UNION SECURITIES CORP., t"1ANAGER
<br />F. S. SMITHERS b COQ 13 MAT. ~l1~~ $1,201,078.80
<br />R. L. DAY b CO, 7 MAT. @2;6
<br />FAIRMAN; HARRIS b CO., INC•
<br />BLYTH b CO., INC.
<br />R. S. DICKSON b CO., INC.
<br />STEIN BROS. b ROYCE @1.90 1,201,560.00
<br />MERCANTILE TRUST CO.
<br />WACHOVlA BANK b TRUST CO. 12 MAT. @1.80 1,201,242.00
<br />BLEWER, HEIDNER & GLYNN S ,MAT. @2~
<br />BANKERS TRUST COQ
<br />SALOMON QROS. b HUTZLER 4 MAT. @5,~ 1,206,598.60
<br />SCOTT b STRINGFELLOW 16 MAT. @1~~
<br />EASTMICN, DILL ON b CO. 9 MAT. @1~~ 1,200,810.00
<br />AND ASSOCIATES 11 MAT. @2%
<br />SHIELDS b CO.
<br />AND ASSOCIATES 13 MAT. C92~ 1,200,2.40.00
<br />AFTER CONSIDERATION OF SAID BIDS IT WAS DETERMINED THAT THE BID OF
<br />THE FIRST BOSTON ~'ORP. WITH THE PEOPLES NATIONAL BANK OF CHARLOTTESVILLE,
<br />STRAOER, TAYLOR AND LO., INC. AND R. H. BROOKE b CU., AS LISTED BELOW, WAS
<br />THE HIGHEST BID RECEIVED. MR. MICHIE CALLED 7HE ATTENTION OF THE MEMBERS TO
<br />THE FACT THAT HF_ IS A DIRECTOR OF THE PEOPLES NATIONAL BANK, ONE OF THE MAKERS
<br />OF THE HIGH BID, BUT HE SAID THAT HE FELT THE HIGH BID SHOULD BE ACCEPTED
<br />AND HE WOULD THEREFORE VOTE FOR IT. A MOTION BY MR. MICHIE, SECONDED BY
<br />MR. FORGES, THAT THIS BID 8E ACCEPTED SUBJECT TO CONFIRMATION BY THE
<br />~r COUNCIL, WAS UNANIMOUSLY ADOPTED:
<br />MARCH 23, 1955
<br />THE FINANCE COMMITTEE OF THE
<br />CITY OF CHARLOTTESVILLE
<br />CHARLOTTESVILLE, VIRGINIA
<br />DEAR SIRS:
<br />FOR THE $1,200,000.CO CITY OF CHARLOTTESVILLE, VIRGIN(A~
<br />SEWERAGE IMPROVEMENT BONDS, SERIES OF 1954, DESCRIBED iN THE
<br />ATTACHED NOTICE OF BOND SALE, WHICH t5 HEREBY MADE A PART OF
<br />THIS 81D, WE SUBMIT THE FOLLOWING OFFER THE BIDDER WILL FILL
<br />IN ONLY ONE OF THE TWO ALTERNATE BIDS PROVIDED BELOW AND CROSS
<br />SUCCESSFUL BtD OUT THE OTHER):
<br />FOR THE FIRST TWO MATURITIES BEARING INTEREST AT THE RATE OF
<br />FIVE PER CENT PER ANNUM, AND THE REMAINING EIGHTEEN MATURITIES
<br />BEARING INTEREST AT THE RATE OF ONE AND THREE-FOUR7HS PER CENT
<br />PER ANNUM, WE WILL PAY ONE MILLION 7W0 HUNDRED THOUSAND DOLLARS
<br />AND 00/100 ~$1,200,000.CO) PLUS ACCRUED INTEREST FROM THE DATE
<br />OF THE BONDS TO THE DATE OF DELIVERY.
<br />WE ENCLOSE HEREWITH A DULY CERTIFIED OR CASHIERS CHECK
<br />PAYABLE TO THE ORDER OF THE CITY TREASURER, CHARLOTTESVILLE, VIRGtNiA~
<br />IN THE AMOUNT OF TWO PER CENT (2~) OF THE FACE AMOUNT OF SAID BONDS
<br />\VIZ: $24,000.CO) WHICH CHECK IS TO 8E RETURNED TO US IF THIS BID
<br />IS NOT ACCEPTED, OTHERWISE 70 BE DEPOSITED BY SAID CITY TREASURER
<br />AND, WHEN THE BONDS qRE HELIVERED AND PAID FOR UNDER THE TERMS OF
<br />7H15 BID, TO BE CONSIDERED AS PART PAYMENT THEREFOR, OR TO BE
<br />RETAINED AS AND FOR LIQUIDATED DAMAGES IN CASE WE FAIL TO TAKE UP
<br />AND PAY FOR THE BONDS.
<br />(SIGNED) Tb~ FIRST 8s~4,~_CORPORAT~B
<br />~~ P~.QPLF.~_N61.J.QMAL_BB~N
<br />C~jg RL O T T S V I E,M, ~9,a.._____.._
<br />1BA~F.B.a..~YLS2B_&_~a.a._ ~ ~S.i_
<br />Rs_.H _BB,4S2Kf._~..~a~._~_-_..,._
<br />BY: THE PEOPLES NATIONAL BANK
<br />~ t16~1.S211E~.Y1Ll.F~.,~,~. ~_
<br />BY~._C~I.FMA~`!_ka_~61MOB
<br />THE SECRETARY WAS DIRECTED 70 TRANSMIT TO THE COUNCIL A COPY OF THE
<br />MINUTES OF THIS MEETING, TOGETHER WITH A COPY OF THE NOTICE OF BOND SALE•
<br />ON MOTION THE MEETING ADJOURNED.
<br />s~ 9~.w. ~.~ 8~1otF~l~.... ~$..~.~~.LS~t`I~BZ
<br />SECRETARY
<br />Sa~ FORB~s l "N n)
<br />CHAIRMAN
<br />WE RESPECTFULLY RECOMMEND THAT YOU CONFIRM THE ACTION OF THE COMMITTEE
<br />AS ABOVE RECORDED.
<br />RESPECTFULLY SUBMITTED,
<br />FINANCE COMt~1TTEE
<br />S fl Fnoarc (e~curnl
<br />
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