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1. Scott, Homer & Mason, Inc., of Lynchbu~g, Va.
<br /> "Subject to the provisions of the official notice of sale, ~nich ishereby
<br />made a part of this proposal, we will ~ay $§08,3B5. I1 Dollars sad aco~ued interest'for all,
<br />~bu.t nc.part less than all, o.f $~505~000.00 City of Portsmouth, Virginia~School Bonds, to be
<br />aa~e.d August l, 1949, maturing $B5,000~ each August 1st, 1~50 to August 1st, 1988, both in-
<br />cluszjve, and $~0,000~ August 1st, 1~89, the lB5 bonds m.aturing from 50 to 54, both inclusive,
<br />bearzng interest at the rate of~ 8%; the B50 bonds maturing from 55 to 54~ both inclusive~ beer
<br />lng interest at the rate of B~% and~the l~0 bonds maturing from 88 to 8~, both inclusive,
<br />bea~ing interest at the rate of 1~%, without option of prior redemption and with interest psy
<br />able semi-annually February 1st and August 1st."
<br />
<br />.B. F. ~. Craigie ~ Company, of Richmond, Va.
<br />
<br /> ,Subject to the provisions of the officia~ Notice of Sale, which is hereby
<br />made a part of this proposal, we will pay Five HunSmed and~ Fiv~ Thousand Dollars plus a pre-
<br />mium of Three Hundred Ninety-Eigh~ and 95/100 Dollars($505,~98.~5) and accrued interest for
<br />all but no part less than all of
<br />
<br /> $505,000. City of Portsmouth, Virginia~School Bonds d ated'August 1,
<br />194~, and maturing serially August 1,.1950 ~o .19~9, inclusive, t~he first $t00,000..bo~ds m~-
<br />t~ing August l, 1950 to 195~, incluszve, bea~.~ng interest at 8~ per ann~mu, the next
<br />bonds maturing August l, 1954 to 198B,~incluszve, bearing interest at B%Per annum, the remai~
<br />lng $t80,000. bond~, mat~ing August l, 1983 to 1~09~ inclusive, bearing interest at B½% per
<br />ann~un, without option o f p~ior ~edemption and with interest p~yable semi-annusl ly on Febr~a~y
<br />let and August 1st of each yea~,~
<br />
<br /> 3o Blair & Qompany of New ~ork City.
<br /> ~For~.all, and n.o pa?t of $505,000.00 par value general oblig~tibn School
<br />Bonds of the City of Po~-tsmouth, Vzrginia, as described in your official Notice of Sale,
<br />which is made a part hereof by reference, we will pay the sum~of par plus accrued interest to
<br />date of delivery for Bonds bea~ing interest at the following rates:
<br />
<br /> 5~
<br /> 1950 through 1952 -
<br /> 1953 through 1963
<br /> 196~ through 1969 ~ per annu~n and a premium of $V93,00."
<br />
<br /> 4. The Northern Trust Compsm_y of Chicago, Ill.
<br /> "For all or none the Five Hundred Five ~housand Dollars ($505,000.) par
<br />value legally issued and properly executed School Bonds of the City of Portsmouth, Virginia,
<br />dated August l, 1949, and due and maturing as follows:
<br />
<br /> $25;000; on August 1 of each of the yea~s 1950-1968, inclusive;
<br /> ~30,000. on August l, 1969;
<br />Bearing interest at the rate of 4 3/4.% for the years 1950-1954,inclusive
<br />~earing i~iBe~est at the rate of B% for the years 1955-53, inclusive
<br />Bea~ing interest at the rate. of 2.40% for the years .1964-69, inclusive;
<br />v~ithout option of prior payment, denomination ~l,000., principal and semz-amnual interest bott~
<br />payable at the Chase National Bank of New York, said bonds to constitute a dLvect general
<br />obligation bf the City of Portsmouth, Vi~nia we will pay you'the par value thereof $505,000
<br />plus a premium of Eight Hundred Three and fie/too dollars ($803.00) and accrued interest from
<br />August let, 1949 to date of delivery to
<br />
<br /> 5, A. C. Allyn ~ Company of i~ew York.
<br />
<br /> "For the ~505,000. par value City of Portsmouth, Virginia School Bonds,
<br />dated August l, 1949, ~BS,000. maBu~ing August 1st in each of the years 1950/1954 inclusive,
<br />bea~in~ interest at the rate of 4.00% per annum, $25,000. on each of the years 1955/1~68 in-
<br />c.lusiv~ and $80,000. August l, 1969 bearing interest: at the rate[of B.50% per armum, we
<br />w~ll pay $100elB1 for each $100o par value 9f bonds, plus accrued znterest."
<br /> 8. Halsey, Stuart & Co. Inc., of New York City.
<br />
<br /> ~For Five Hunted and Five Thousand Dollars (~05,000.) City of Po~tsmout~
<br />Virginia, school Bonds, offered for sale at 2:00 P.M., Eastern Standa.~d Time, July lB, 1949,
<br />which bonds represent valid and legally binding obligations of the City of Portsmouth payablei
<br />from ad valorem taxes levied aoaznst all the taxable p~operty therein without limitation as
<br />rate or amount except on certain annexec territory and which a re in all respects as set fortk
<br />inthe Official Notice of Sal~, which you sent us,
<br /> We bid Par and accrued interest to date of delivery plus a premium of
<br /> $10.00 for $100,O00.00-bonds, maturing 1950 to 1953, inclusive, bearing interest at the rate
<br /> of B~% per amnum, $1V5,000.00 bonds, m~turing 1954 to ~960, inclusive, bearing interest at
<br /> the rate of B~ per snnum, $230,000.0G bo~ maturing 1961 to 1969, inclusive, bearing inter-
<br /> est at the rate of B~% per annum.
<br /> It is ~u~derstood ~that the bonds .will be delivered to us accompanied by
<br /> the unqualified appmoving opinion of N~essrs. Wood, King ~nd Dawson, whose opinion will be
<br /> fu~niahed by ~he City.~
<br />
<br /> The City Attorney presented t~e following orSinance in reference to s aid
<br />
<br />bonds:
<br />
<br />"AN ORDINANCE TO APPROVE THE SALE OF $505,000,00 OF SCHOOL BONDS,
<br />PROVIDED FOE IN THE ORDINANCE ADOPTED BY THE CITY CO~JNCIL ON JUNE
<br />14th, 1949, AND FIXING THE RATE OF INTEI~EST FOR SAID BONDS."
<br />
<br />Motion o f Mr. Duke to place said ordinance o n first read_ng, was adopted.
<br />
<br />
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