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<br />We enclose herewith a duly certified check payable to the order
<br />of the City Treasurer, Charlottesville, Virginia, in the amount of
<br />(2%) two percentum of the face amount of the said bonds (viz:$13,000.00)
<br />which check is to be returned to us if this bid is not accepted,
<br />otherwise to be deposited by said City Treasurer and, when the bonds are
<br />delivered and paid for under the terms of this bid, to be considered as
<br />part payment thereof, or to be retained as and for liquidated damages in
<br />case we fail to take up and pay for the bonds.
<br />(signed) Alex.Brown & Sons
<br />The Northern Trust Company
<br />Union Trust Company of Maryland
<br />BY Alex Brown & Sons..
<br />SECTION 2. The said bid of Alex. Brown & Sons, The Northern Trust Co., and
<br />Union Trust Company of Maryland hereinabove set forth in Section 1 of this resolu-
<br />tion is hereby accepted and said $650,000 Refunding Bonds, Series of 1942, are
<br />hereby awarded to Alex. Brown & Sons, The Northern Trust Co., and Union Trust
<br />Company of Maryland in accordance with the terms of said bid, and shall bear interest
<br />at the rate of 1.60 per centum per annum.
<br />SECTION 3. The proper officers of the City of Charlottesville are hereby
<br />authorized to deliver said bonds to said purchasers upon receipt of the purchase
<br />price and accrued interest therefor in accordance with the terms of said bid.
<br />SECTION 4. This resolution shall take effect immediately.
<br />LEGAL OPINION RE: CITY OF CHARLOTTESVILLE, VIRGINIA
<br />REFUNDING BONDS, SERIES OF 1942,
<br />$650,000.00
<br />Lyttelton Waddell, Esq.,
<br />City Attorney,
<br />Charlottesville, Virginia.
<br />Dear Sir:
<br />February 6, 1942.
<br />CITY OF CHARLOTTESVILLE, VIRGINIA, REFUNDING BONDS, SERIES OF 19422
<br />$650,000.
<br />At the request of the Council of the City of Charlottesville, Virginia, we have
<br />examined into the validity of an issue of $650,000.00 Refunding Bonds, Series of 1942,
<br />of the City of Charlottesville, Virginia, dated February 1, 1942, payable serially in
<br />numerical order $30,000 bonds on August 1 in each of the years 1943 to 1952, inclusive,
<br />and ,$35,000 bonds on August 1 in each of the years 1953 to 1962, inclusive, numbered
<br />1 to 650, inclusive, of the den6mination of $1,000 each, and bearing interest at the
<br />rate of one and sixty -hundredths per centum per annum, payable semi-annually February 1
<br />and August l; said bonds reciting that they are issued for the purpose of refunding a
<br />like amount of valid outstanding bonds of said City, under the authority of and in full
<br />compliance with the Charter of the City of Charlottesville and the laws of the State of
<br />Virginia, and pursuant to an ordinance of the City of Charlottesville adopted January
<br />16th, 1942 and spread in Ordinance Book 2, p. 282-285. We have examined the Constitution
<br />and statutes of the State of Virginia, including the Charter of the City of Charlottes-
<br />ville, and certified copies of proceedings of the Council of said City, authorizing
<br />the issuance of said bonds, also an executed bond of said issue, No. 1.
<br />In our opinion said bonds have been authorized and issued in accordance with the
<br />Constitution and statutes of the State of Virginia, including the Charter of the City of
<br />Charlottesville, Virginia, and constitute valid and legally binding obligations of the
<br />City of Charlottesville, Virginia, and said City has power and is obligated to levy ad
<br />valorem taxes for the payment of said bonds and the interest thereon, upon all property
<br />within said City subject to taxation by said City, without limitation of rate or amount.
<br />Very truly yours,
<br />THOMSON, WOOD & HOFFMAN (signed)
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