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At a ca_ledmeetzng of the City Council, held July 85th, 1947, at
<br />4:00 P.E., there were present:
<br />
<br />Sch6ol Bonds:
<br />
<br />Leslie ~T. Fox, Arthu~ P. Henderson,' James N.Howard, Frank D.
<br /> Lawrence, C. Eo tYarren, H. Earl Weiseman, Pea~le J. Wilson,
<br /> and ~thur S. Owens, City Msnager, and R.C. Barclay, City
<br /> Attorney.
<br />The following call for the meeting was read:
<br />
<br />"Please attend a meeting of-the City Co~mcil .on Frid~ July 25th,
<br />194V, at 4:00 o'clock P.E.., to consider the report of the City
<br />Manager on the sale of $185~000.00 School Bonds.
<br /> By order of the President.
<br /> L.~, C. Brinson, City Clerk."
<br />
<br /> The City Aanager made the feltowangU~eport offStage'sate of $185,000.00
<br />
<br /> Three bids were received up t o twelve o~clock noon, July 25th,
<br />194V, and opened by the City Manager in the.presence Qf ~epresenta-
<br />tires of the bidders:-
<br />
<br /> Scott, Homer ~-Nason, ~ynchbu~g, Virginia, with notation at
<br />bottom of letter:
<br />
<br />For account of: Scott, Herder & Nason, Inc.
<br /> T~ip & Comp.z~?~ Inc., New To~k~
<br /> Amo.u~.t o f bad $185,98~.~5
<br /> Certified check of $~,700.00 accompanied bid.
<br />
<br /> C. F. Cassell & Company, And American National Bmnk
<br />mouth, Virginia:
<br /> Amount of bid $187,~61.~0
<br /> Cashier's check of $8,700.00 accompanied bid.
<br />
<br />of ~erts-
<br />
<br />I~vestment Corporation of Norfolk, Va.
<br />F. N. Craigie & Company of Richmond, Va.
<br />Amo.u~.t of bid
<br />CertLfied check of $~,729.~A accompanied bid.
<br />
<br /> At 2:00 o'clock P.~., of the same day, a bid was received through
<br />the mail by Special ,Delivery Air Nail, postmarked -
<br />
<br />"New ¥o~E, New Tork, Chu~ch St. Station
<br /> July 24th, 194~ - 4:00 O'clock P.M.,'
<br /> Portsmouth, Virginia, July 2Sth, 2:00 o'dlock P.N.
<br />
<br /> From - First Boston Corporation
<br />Amount of bid - lG1;6Al% or $1,018.Al per bond, plus accrued
<br /> interest to date of delivery-Total $188,0~.8~.
<br />Certified check of $8,~61.O0 accompanied bid.
<br />
<br /> ~. N~y, representing Investment Co~poration o f Norfolk, Va., and
<br />F. W. Craigie & Company, contended ~s bid was t~e only one to be considered~r the reason that
<br />the accompanying checks of the other two bidders was less ths~ ~% of the amount o f the bide
<br />
<br />President.
<br />
<br />Motion 8f Er. Howard to ~efe~ to the City Attorney, was adopted.
<br />
<br />On motion adjourned~.
<br />
<br />City Clerk.
<br />
<br />
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