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BY ORDER OF:
<br />M. M. - PENCE ( S 1 GNEII
<br />CLERK
<br />GU,s K. TEBELL ( S I GNED)
<br />PRESIDENT
<br />THE COUNCIL MET IN SPECIAL SESSION ON THIS DATE WITH THE
<br />FOLLOWING MEMBERS PRESENT: MR. HADEN, MR. HAMM AND MR. TEBELL•
<br />ABSENT: MR. ADAMS AND MR. BARR.
<br />THE FOLLOWING REPORT OF THE FINANCE COMMITTEE GIVING THE
<br />RESULT OF THE SALE OF $275,000.00 CITY OF CHARLOTTESVILLE,
<br />GAS IMPROVEMENT BONDS, SERIES OF 19509 WAS PRESENTED AND
<br />CONSIDERED:
<br />JUNE 209 1950
<br />TO THE MEMBERS OF THE COUNCIL
<br />CITY OF CHARLOTTESVILLE, VIRGINIA
<br />GENTLEMEN:
<br />PURSUANT TO ORDINANCES ADOPTED BY THE COUNCIL MARCH 6,
<br />COML1
<br />SALE
<br />REPORT OF FINANCE 1950, AND JUNE 52 19509 SPREAD IN ORDINANCE BOOK 3, PAGES 96 -
<br />ITTEE RE: 97 AND 110-111-112 RESPECTIVELY, YOUR UNDERSIGNED FINANCE
<br />SALE OF BONDS COMMITTEE WAS AUTHORIZED TO SELL AT PAR OR MORE, AN ISSUE OF
<br />$275,000.00 CITY OF CHARLOTTESVILLE, GAS IMPROVEMENT BONDS,
<br />SERIES OF 1950, AS DESCRIBED AND SET FORTH 1N SAID ORDINANCES.
<br />IN ACCORDANCE WITH SAID AUTHORITY THE FINANCE COMMITTEE
<br />RECEIVED SEALED BIDS AT A MEETING OF THE COMMITTEE HELD AT
<br />12:00 O'CLOCK NOON, E. S.T., ON JUNE 20, 19509 FOR THE PURCHASE
<br />OF $275,000.00 CITY OF CHARLOTTESVILLE, GAS IMPROVEMENT BONDS,
<br />SERIES OF 1950. A COPY OF THE MINUTES OF THIS MEETING IS LISTED
<br />BELOW:
<br />MINUTES OF THE MEETING OF THE FINANCE COMMITTEE OF THE
<br />CITY OF CHARLOTTESVILLE HELD AT 12:00 O'CLOCK, NOON,
<br />JUNE 209 1950.
<br />A MEETING OF THE FINANCE COMMITTEE OF THE CITY OF
<br />CHARLOTTESVILLE, WAS HELD IN THE COUNCIL CHAMBER, AT THE
<br />CITY HALL AT 12:00 O'CLOCK NOON, E. S. T.9 ON THE 20TH
<br />DAY OF JUNE, 19509 PURSUANT TO A CALL BY THE CHAIRMAN,
<br />FOR THE PURPOSE OF RECEIVING AND CONSIDERING SEALED BIDS
<br />FOR THE PURCHASE OF $275,000.00 CITY OF CHARLOTTESVILLE,
<br />GAS IMPROVEMENT BONDS, SERIES OF 1950. PRESENT: MR. HADEN,
<br />AND MR. H AMM.
<br />THE CH A 1 RMAN, r0R. H. A. H ADEN, PRESIDED AND MR. M. M•
<br />PENCE, DIRECTOR OF FINANCE, WAS DESIGNATED TO ACT AS
<br />SECRETARY OF THE MEETING.
<br />A COPY OF THE NOTICE OF BOND SALE OF $2759000.00 CITY
<br />OF CHARLOTTESVILLE, GAS IMPROVEMENT BONDS, SERIES OF 19509
<br />WAS PRESENTED. THE CHAIRMAN STATED THAT THIS NOTICE OF
<br />BOND SALE HAD BEEN MAILED TO INTERESTED BOND HOUSES AND
<br />SUBSTANTIALLY SIMILAR NOTICE HAD BEEN PUBLISHED IN THE
<br />BOND BUYER ON JUNE 129 1950. THE SECRETARY WAS DIRECTED
<br />TO TRANSMIT TO THE COUNCIL A COPY OF THE MINUTES OF THIS
<br />MEETING TOGETHER WITH A COPY OF THE NOTICE OF BOND SALE.
<br />THE CHAIRMAN DIRECTED MR. JAMES E. BOWEN, JR., CITY
<br />MANAGER, TO OPEN AND READ ALL BIDS RECEIVED UP TO 12:00
<br />O''CLOCK NOON, E. S. T.9 AND TO IECORD THE SAME. THE FOLLOW—
<br />ING BIDS WERE RECEIVED, OPENED AND RECORDED:
<br />BIDDER It4TFREST RATE AmojjbjT
<br />H ARR 1 MAN R I PLEY L: CO., INC. FIRST FIVE MAT. 1. 60�
<br />MILLER AND PATTERSON NEXT FIFTEEN MAT. 12 0 $275,104.50
<br />BIDS RECEIVED HALSEY, STUART & CO., INC. FIRST FIVE MAT. 1u1
<br />W. H. MORTON & CO., INC. NEXT FIFTEEN MAT. 12� 275,294.25
<br />SCOTT, HORNER Q& MASON, INC. FIRST FIVE MAT. 14%
<br />NEXT FIFTEEN MAT. 120 275,111.11
<br />MERCANTILE—COMMERCE BANK &
<br />TRUST CO. FIRST FIVE MAT. 1e,
<br />THE MILWAUKEE COMPANY NEXT FIFTEEN MAT. 12 0 2759020.50
<br />THE FIRST NATIONAL BANK
<br />OF CHICAGO 1.60% 276,523.50
<br />OTIS & CO., INC.
<br />PAUL FREDERICK & CO. FIRST F1VE MAT. 2.20°0
<br />J. LEE PEELER & CO.
<br />VANCE SECURITIES CORP. NEXT FIFTEEN MAT. 12% 2759217.25
<br />CHEMICAL BANK & TRUST CO. FIRST FIVE MAT. 22-/
<br />KEAN, TAYLOR & CO. NEXT FIFTEEN MAT. 1-21-0/a 2759192.50
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