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<br />AFTER CONSIDERATION OF SAID BIDS IT WAS DETERMINED THAT THE BID OF THE
<br />FIRST BOSTON CORPORATION WITH THE PEOPLES NATIONAL BANK OF CHARLOTTESVILLE, STRADER
<br />AND COMPANY, INC. AND R. H. BROOKE $~ COMPANY, AS LISTED BELOW, WAS THE HIGHEST BID
<br />RECEIVED. A MOTION BY MR. MICHIE, SECONDED BY MR. COLEMAN, THAT THIS BID BE
<br />ACCEPTED SUBJECT TO CONFIRMATION BY THE COUNCIL, WAS UNANIMOUSLY ADOPTED:
<br />JANUARY 8, 1958
<br />THE FINANCE COMMITTEE OF THE
<br />CITY OF CHARLOTTESVILLE
<br />CHARLOTTESVILLE, VIRGINIA
<br />DEAR SIRS:
<br />FOR THE $1,200,000.00 CITY OF CHARLOTTESVILLE, VIRGINIA, SCHOOL IMPROVEMENT
<br /> BONDS, SERIES OF 1957, DESCRIBED IN THE ATTACHED NOTICE OF BOND SALE, WHICH IS
<br />BID: FIRST BOSTON CORP., WITH HEREBY MADE A PART OF THIS BID, WE SUBMI T THE FOLLOWING OFFER THE BIDDER WILL
<br />PEOPLES NATIONAL BANK, STRADER FILL IN ONLY ONE OF THE TWO ALTERNATE BI DS PROVIDED BEL OW AND CROSS OUT THE
<br />& CO. AND R. H. BROOKE 8c CO. OTHER
<br /> FO R THE FIRST 3 MATURITIES BEARING INTEREST AT THE RATE OF 5~ PER ANNUM,
<br /> AND THE REMAINING 17 MATURITIES BEARING INTEREST AT THE RATE OF 2.4O~o PER ANNUM,
<br /> WE WILL PAY ONE MILLION, TWO HUNDRED TWO THOUSAND, ONE HUNDRED FIFTY-EIGHT
<br /> AND 80 100 ($1,202,158.80 PLUS ACCRUED INTEREST FROM T HE GATE OF THE BONDS
<br /> TO THE DATE OF DELIVERY.
<br />WE ENCLOSE HEREWITH A DULY CERTIFIED OR CASHIERTS CHECK PAYABLE TO THE
<br />ORDER OF THE CITY TREASURER, CHARLOTTESVILLE, VIRGINIA, IN THE AMOUNT OF
<br />TWO PER CENT (2~) OF THE FACE AMOUNT OF THE SAID BONDS ~V12: $24,000.00)
<br />WHICH CHECK IS TO BE RETURNED TO US IF THIS BID IS NOT ACCEPTED, OTHERWISE TO
<br />BE DEPOSITED BY SAID CITY TREASURER AND, WHEN THE BONDS ARE DELIVERED AND
<br />PAID FOR UNDER THE TERMS OF THIS BID, TO BE CONSIDERED AS PART PAYMENT
<br />THEREFOR, OR TO BE RETAINED AS AND FOR LIQUIDATED DAMAGES IN CASE WE FAIL TO
<br />TAKE UP AND PAY FOR THE BONDS.
<br />~SIGNED~ THE FIRST BOSTON CORP.
<br />PEOPLES NATIONAL BANK OF
<br />CHARLOTTESVILLE
<br />STRADER & CO., INC.
<br />R. H. BROOKE & CO.
<br />BY: PEOPLES NATIONAL BANK OF
<br />CHARLOTTESVILLE
<br />COLEMAN E. TRAINOR
<br />BY ASSISTANT CASHIER
<br />THE SECRETARY WAS DIRECTED TO TRANSMIT TO THE COUNCIL A COPY OF THE MINUTES
<br />OF THIS MEETING, TOGETHER WITH A COPY OF THE NOTICE OF BOND SALE.
<br />ON MOTION THE MEETING ADJOURNED.
<br />JAS. E. BOWEN, JR. ~SIGNED~ S. B. WEINBERG ~SIGNED~
<br />SECRETARY CHAIRMAN
<br />WE RESPECTFULLY RECOMMEND THAT YOU CONFIRM THE ACTION OF THE COMMITTEE AS
<br />ABOVE RECORDED.
<br />RESPECTFULLY SUBMITTED,
<br />FINANCE COMMITTEE
<br />S. B. WEINBERG ~SIGNED~
<br />A. C.COLEMAN ~SIGNED~
<br />T. J. MICHIE ~SIGNED~
<br />ON MOTION BY MR. SCRIBNER, SEGONDED BY MR. COLEMAN, THE FOLLOWING RESOLUTION
<br />WAS UNANIMOUSLY ADOPTED:
<br />BE IT RESOLVED BY THE COUNCIL OF THECITY OF CHARLOTTESVILLE,
<br />RESOLUTION ACCEPTING
<br />BID AS RECOMMENDED BY VIRGINIA THAT THE SALE OF ~1,2OOQOO.OO CITY OF CHARLOTTESVILLE SCHOOL
<br />FINANCE COMMITTEE
<br />IMPROVEMENT BONDS, SERIES OF 1957, BEARING INTEREST ON THE FIRST THREE
<br />MATURITIES AT 5~ PER ANNUM AND ON THE REMAINING SEVENTEEN MATURITIES
<br />BEARING INTEREST OF 2.40°Jo PER ANNUM, TO THE FIRST BOSTON CORPORATION
<br />THE PEOPLES NATIONAL BANK OF CHARLOTTESVILLE, VIRGINIAS STRADER, TAYLOR 8c
<br />CO., INC. AND R. H. BROOKE & CO. FOR THE SUM OF ONE MILLION TWO HUNDRED TWO
<br />DOLLARS AND 80100 ($1,202,15$,$0)
<br />THOUSAND ONE HUNDRED FIFTY-EIGHT, PLUS ACCRUED INTEREST FROM THE DATE
<br />OF THE BONDS TO THE DATE OF DELIVERY, AS REPORTED BY THE FINANCE COMMITTEE,
<br />BE AND THE SAME IS HEREBY APPROVED AND CONFIRMED.
<br />AND BE IT FURTHER RESOLVED THAT THE FINANCE COMMITTEE PROCEED TO
<br />HAVE SAID BONDS PREPARED AND DELIVERED TO THE SUCCESSFUL BIDDER UPON
<br />PAYMENT IN ACCORDANCE WITH THE TERMS OF THE BID.
<br />
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