|
June 18, 3.918
<br />
<br /> It is recommended that an appropriation of $600. be made for this purpose.
<br /> (V~ith Public Safety Department) A petition .of the ClerE to the Civil & ~olice Justice
<br />and Chief of Police for an increase in.salary to $100. per month.
<br /> i~oogre s s.
<br />
<br /> (Signedi C.H. Herbert, g~airm~u.
<br />
<br /> On motion, the report of the Department was adopted, and by the following vote: Ayes-- Bunting, claud, Deans, Hanvey, Herbert, Wright,
<br /> The Department of Finance repqrted also that. it.had received the following bids for the
<br />purchase of 08B,800.00, l0 year, 65, Refunding Bonds.
<br />
<br /> ~eil, Roth & Co., Cincinnati, Ohio. ................... $ 83,000.00
<br /> ~ay ~ ~ 83,805 .BI
<br /> . C. er & Co., ....................
<br /> Bank of Tidewater, PortSmouth, Va. .................... 83,553.~8
<br /> n ~ ... 101.50 for $25,000. w6rth~.
<br /> ~:. ~. Lash, -. ........... -..--
<br />
<br /> Said Deps_~tment recommended that awarded be made to J. C. Mayer & Co., they to f~nls~h
<br />blank bonds smd to pay all expenses incidental to sale of bonds; and the ~eeommendation was adopt-
<br />ed by the following vote:
<br /> Ayes--Bunting, Claud, Deans, Hanvey, Herbert, Wright,
<br />
<br /> - Then the Chairman of the Finance Department lmresented~ the following resolution as to bond
<br />and coupon forms:
<br /> ~BE IT RESOL~D BY THE COD~CiL OF ~E. Ci%~f OF PORTS~0UTH, ViRGiNIA~ That
<br />
<br /> nW~FW2LS, by an ordinance duly passed upon the l~th cay of June, 1918, bonds were authorized
<br />to be issued in the sum of $8E,800. known as Portsmouth Redemption Bon~S, and,
<br /> u~Fn-EREAS, the Department of Finance of the City has reported that said bonds have been duly
<br />advertised for sale and have been sold to the firm of J. C. Nayer '& Co~pany at a price of paP,
<br />accrued interest and a p~mium of $1,005.~5, and,
<br /> "~:ww.~S~ the Detriment o~ Finance and the purchaser have agreed that such bonds shall be
<br />payable in ten ygS~s from the date t.her.eo~%s.aid.~l~ond.s t.o.co~_si~st~_~o~ ~ez~gn~y~-.t~0 bo~n~ds_in.th.e~
<br />dei%omination of $1,000.00 each, e~e non~ ~n-the ~enomlna~en or ~uq.uo an~ ~n~ee o~z~s mn
<br />denomination of $100.00, n~mbered f~om' one to eighty-si~, inclusive,
<br />
<br /> "THEREFOP~, BE iT HESOLYED, that the action of the Board of Finance in regard to the issue
<br /> of the bonds and sale thereof be approwed, smd that said sale to the fir~. of J. 0. ~ayer & Company
<br /> be approved and confirmed.
<br />
<br /> =HE IT Ku-Rir~g.R RESoLvED that said bonds shall.be in substantially the following form, to-wit:
<br />
<br />U N i TE~D ~S T A T E S O F A'N ER i ~ A
<br />
<br />S T A~T E O F V I R G I N i A
<br />
<br />C 0 UN ~TT O F N O R F O L K
<br />
<br /> C I _riff 0F
<br /> SIX (~%) PERCENT REDE~Ti0N BO~.
<br />No.
<br />
<br /> ~OW ALL ~N BY' THESE PP~E~TS: That the City of Portsmouth, Virginia, acknowledges
<br />itself to owe and for value received hereby tmmomises %o pay to be~er, u~pon the flrst day of
<br />July, 19i8, the sum of
<br /> o~ ~ous~n~ DOLL~£ ($S00.O0) ($~00.00)
<br />
<br />in lawful money of the United States of America, ~ith interest thereo~u at the rate of
<br />
<br />~ntzI the payment of the prine£pai thereof,: upon pres-entatlon and su~rende~z the proper coupons
<br />therefor hereto attached. Both p~ineipal snd interest hereof are payabl~e at Portsmouth, ~ao
<br />
<br />ol~y, theretofore iegaily issued,, and by vi~t?? of an..ordina~ce d~ly pahsed ~ t".n? C.ou~ci!
<br />said City upon ~ne l~th ~y of J~e', 1918, e~titled,. =~ 0rd~nce to au~ze .~ne ~ssue cz- new.
<br />bonds for the red~ption and liquidation of $2,800. R~demption ~nds, falling due ~J~y l, 1918.'
<br />
<br /> ~It is her~ ~t~ed and Pecited that all acts, co~itions and thugs reigned ~ law
<br />to be d~e, p~ece~e~t to~d ~.~ i~$~ce~. he~eof~ ~ ?~er to make this' bend a legal, ~alid
<br />~ ~a~ ~+.~ ~ the Ci~ of Po~tsmou~ V~gi~a, ha~e been do~e.~ ha~e happened
<br />been~U ~.~fo~ed° . ~-r°~ ....... ~e ~ ~;'d~"O~orm,'~ that ~'~is issu-e of= b~ds, togethe~ wt{h=..al!., otheP
<br />mt~ inde~ess of saz~ Ci~,.~s not ~ e~oess of.~ ~ statu~ or ~ons~ou~m~z *~m-
<br />tati~ of Yndebte~ess; that provzsmom ~s been ~de fo~ the le~ ~d co!.ection of ~ ~ual
<br />sta~ s~eicient to 'a ~%e internes% hereof 8~d to c~eate a s~i~ f~d %o redeem the pPinciD~!
<br /> , - - P Y ~ . .t= - -
<br />tt m~eit=: t~t the f~l faith~ o=edit :and ~e,zenues, ~ ail ~e rea! and p~=s~al ~oper~
<br />~ sa~d 0~, ~e here~ ~revocably pieced ~or the p~mpt pa~ent of tht~ .b~nd ~d ~e~est,
<br />as the s~e matte.
<br />
<br /> "w~ ~;I~ss 1TE~OF, ~e OiW of Portsmouth, V~g~a, ~s c~used this bond to be
<br />~ ~e. ~esident O~ the O~cil ~o.: the C~ty ~eas=e~, ~,s~l ~f the' Ci~ to be . at-
<br />~s~d', ~ tP~ City C!~k, ~d the COupo~ t~ ~ th6 fao,s~t~~ ~;~e ~of the City
<br />
<br />
<br />
|