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Minutes 10/10/1956
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Minutes 10/10/1956
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City Council
City Council - Type
Adopted Minutes
City Council - Date
10/10/1956
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October 10th. 1956. <br /> <br /> For the $2,500,000.00 Serial Water Bonds, said bonds o£ consecutive maturies to <br />b~ar the interest rates Der annum as £ollows: <br /> <br />00/~00 Dollars <br />$890,175.00. <br /> <br /> 300,000.00 <br />$2~200,000.00 <br /> <br /> bonds maturing 1957 to 1959 inclusive at 3~% <br /> b~nds maturing 1960 to 1976 inclusive at 3.10% <br /> bonds maturing 19 to 19 inclusive at % <br /> bonds maturing 19 to 19 inclusive at <br /> bonds ~/aturing 19 to 19 inclusive at <br /> bonds maturing 19 to 19 inclusive au % <br /> <br />We will pay Two Million Five Hundred One Thousand, Nine Hundred Seventy-five and <br /> <br />($2,501,975.00) plus accrued interest to date of delivery. <br /> The net interest cost determined in the manner prescribed by the Notice of Sale is <br /> <br /> We herewith inclose a certified check £or $50,000.00 payable to the City o£ Ports- <br />mouth, Virginia, to secure the City against loss resulting £rom failure on our part to comply with the terms o£ <br />this bid. <br /> <br />White, Weld & Co. (Si~ned) <br />White, Weld & Co., Managers <br />Harrima~ Ripley & Co., Incorporated <br />A.C. Allyn and Company, incorporated <br /> Bear~ Stearns & Co. <br /> <br />F. S. Moseley & <br />Co£fln & Burr, Incorporated <br /> Strader, Taylor & Co. Inc. <br /> <br />Davenport & Co. <br />Edward G. Webb & Co. <br /> <br />Motion o£ P~r. Scott to concnr in the recommendation of the City Manager was adop~edo <br /> <br />Motinn o£ Mr. Weiseman ~o place the £ollowing ordinance on first reading~ was adopted: <br /> <br /> "AN ORDINANCE TO APPROVE THE SALE OF TWO MILLION FIVE HUNDRED THOUSAND DOLLARS <br /> OF WATER BONDS PROVIDED IN THE ORDINANCE iADOpTED BY ~ CITY COUNCIL ON OCTOBER <br /> <br /> 2, 1956 ANDFFIXING THE RATE OF INTEREST FOR SAID BONDS" <br />On motion adjourned. <br /> <br />lerk. <br /> <br />A~proved - ~ <br /> Presiaent. / <br /> <br /> <br />
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