|
Z16
<br />SEALED BIDS WILL BE RECEIVED BY THE CITY MANAGER OF THE CITY OF CHARLOTTESVILLE, VIRGINIA.,
<br />UNTIL 11:30 O'CLOCK A. M. EASTERN STANDARD TIME,
<br />MARCH 9, 1971,
<br />•
<br />AT WHICH TIME THEY WILL BE PUBLICLY OPENED BY THE CITY "-TANAGER IN THE
<br />f
<br />COUNCIL CHAMBER 1N THE CITY
<br />HALL, CHARLOTTESVILLE, VIRGINIA] FOR THE PURCHASE OF ALL BUT NOT ANY PART
<br />OF SIX PIILLION COLLARS
<br />($6,000,000) SCHOOL IMPROVEMENT BONDS, SERIES OF 1970, OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA.
<br />AN AWARD WILL BE MADE ON THE SAME DATE THE BIDS ARE OPENED UNLESS ALL
<br />PROPOSALS ARE REJECTED. THE
<br />BONDS WILL BE DATED APRIL 1, 1971 AND MATURE AS FOLLOWS:
<br />$300,000 ON APRIL 11, 1972 $300,000 ON APRIL 1,
<br />1982
<br />300,000 ON APRIL 11 1973 300,000 ON APRIL 1,
<br />1983
<br />300,000 ON APRIL 1, 1974 300,000 ON APRIL 1,
<br />1984
<br />300,000 ON APRIL 11 1975 300,000 ON APRIL 1,
<br />1985
<br />300,000 ON APRIL 1, 1976 300,000 ON APRIL 1,
<br />1986
<br />300,000 ON APRIL 11 1977 300,000 ON APRIL 12
<br />1987
<br />300,000 ON APRIL 1, 1978 300,000 ON APRIL 1,
<br />1988
<br />300,000 ON APRIL 11 1979 300,000 ON APRIL 11
<br />1989
<br />300,000 ON APRIL 1, 1980 300,000 ON APRIL 1,
<br />1990
<br />300,000 ON APRIL 1, 1981 300,000 ON APRIL 1,
<br />1991
<br />THE BONDS ARE TO BE NON -REGISTRABLE, NON -CALLABLE COUPON BONDS.
<br />THE BONDS WILL ALL BE OF THE
<br />•
<br />DENOMINATION OF $5,000 EACH. INTEREST ON THE BONDS WILL BE PAYABLE OCTOBER
<br />1, 1971 AND SEMI-ANNUALLY
<br />THEREAFTER ON THE FIRST DAYS OF APRIL AND OCTOBER; BOTH PRINCIPAL AND
<br />INTEREST WILL BE PAYABLE AT
<br />THE VIRGINIA NATIONAL BANK, CHARLOTTESVILLE, VIRGINIA, OR AT THE CHEMICAL
<br />BANK NEW YORK TRUST COMPANY,
<br />NEW YORK, NEW YORK, AT THE OPTION OF THE HOLDER.
<br />THE ENTIRE PROCEEDS FROM THIS BOND ISSUE WILL BE USED EXCLUSIVELY
<br />FOR ACQUIRING SITE, CONSTRUCTING
<br />AND FURNISHING ONE ADDITIONAL SCHOOL IN THE CITY OF CHARLOTTESVILLE, VIRGINIA. THE ESTIMATED COST OF
<br />THIS SCHOOL IS $8,200,000 OF WHICH $2,200,000 WILL BE PAID FROM THE CAPITAL
<br />IMPROVEMENT FUND.
<br />BIDDERS ARE INVITED TO NAME THE RATE OR RATES OF INTEREST, NOT EXCEEDING
<br />FOUR RATES, WHICH THE
<br />BONDS ARE TO BEAR, WHICH MUST BE IN MULTIPLES OF ONE-FOURTH OR ONE-TENTH OF ONE PER CENT. IF MORE
<br />THAN ONE RATE IS NAMED, EACH RATE MUST BE FOR CONSECUTIVE MATURITIES AND
<br />CANNOT BE REPEATED. THE
<br />DIFFERENCE BETWEEN THE HIGHEST AND LOWEST RATES NOT TO EXCEED TWO PER
<br />CENT. ONLY ONE COUPON WILL
<br />BE ATTACHED TO EACH BOND FOR EACH INSTALLMENT OF INTEREST THEREON AND
<br />BIDS PROVIDING FOR ADDITIONAL
<br />OR SUPPLEMENTAL COUPONS WILL BE REJECTED.
<br />THE BONDS WILL BE AWARDED TO THE BIDDER OFFERING THE LOWEST INTEREST COST TO THE CITY, WHICH
<br />WILL BE DETERMINED BY AGGREGATING THE INTEREST PAYABLE BY THE CITY OVER THE LIFE OF THE BONDS IN
<br />ACCORDANCE WITH THE TERMS OF EACH BID PRESENTED, AND DEDUCTING THEREFROM THE PREMIUM, IF ANY,
<br />STIPULATED IN SAID PROPOSAL. NO BID FOR LESS THAN PAR AND ACCRUED INTEREST WILL BE CONSIDERED.
<br />ALL PROPOSALS MUST BE UNCONDITIONAL AND MUST BE ACCOMPANIED BY A CERTIFIED OR CASHIER'S OR
<br />TREASURER'S CHECK UPON AN INCORPORATED BANK OR TRUST COMPANY AND PAYABLE TO THE CITY TREASURER,
<br />CHARLOTTESVILLE, VIRGINIA, IN THE AMOUNT OF TWO PER CENT (2%) OF THE FACE AMOUNT OF SAID BONDS •
<br />(V12: $120,000), WHICH CHECK WILL BE IMMEDIATELY RETURNED TO THE BIDDER IF HIS BID IS NOT ACCEPTED,
<br />OTHERWISE IT WILL BE DEPOSITED BY THE CITY TREASURER, AND WHEN THE BONDS ARE DELIVERED AND PAID FOR
<br />PURSUANT TO THE TERMS OF THE ACCEPTED BID WILL BE CONSIDERED AS PART -PAYMENT FOR SAID BONDS OR WILL
<br />BE RETAINED AS AND FOR LIQUIDATED DAMAGES IN CASE THE BIDDER FAILS TO TAKE UP AND PAY FOR THE BONDS.
<br />NO INTEREST WILL BE ALLOWED BY THE CITY ON THE AMOUNT OF SAID GOOD FAITH CHECK. THE CITY OF CHARLOTTES-
<br />VILLE RESERVES THE RIGHT TO REJECT ANY OR ALL BIDS.
<br />THE BONDS WILL BE DELIVERED TO THE PURCHASER, OR HIS AGENT, IN NEW YORK CITY, ON APRIL 81 1971,
<br />OR AS SOON THEREAFTER AS THE BONDS MAY BE PREPARED. THE CITY OF CHARLOTTESVILLE WILL PAY THE COST
<br />OF PRINTING, PREPARING AND DELIVERING SAID BONDS.
<br />THE PURCHASER WILL BE FURNISHED, WITHOUT COST, THE USUAL CLOSING PAPERS INCLUDING A CERTIFICATE
<br />EVIDENCING THE FACT THAT THERE IS'NO LITIGATION PENDING IN ANY WAY AFFECTING THE VALIDITY OF SAID
<br />BONDS OR THE LEVY OF TAXES FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST THEREOF, AND WITH THE OPINION
<br />B T NE ATTORNEYS AND COUNSELLORS AT LAW NEW YORK NEW YORK,
<br />OF MESSRS. W000 KING DAWSON LOVE & SA A ( , > >
<br />STATING THAT THE BONDS ARE VALID AND LEGALLY BINDING OBLIGATIONS OF THE CITY OF CHAR_LOTTESVILLE.9
<br />
|