19680521 r-68-3 R-68-3
A RESOLUTION AWARDING $400,000 GENERAL OBLIGATION
BONDS OF THE CITY OF FAIl{FAX, VIRGINIA
THE COUNCIL OF THE CITY OF FAIRFAX HEREBY RESOLVES:
Section 1. Advertisement was duly made calling for
sealed bids to be received by the City Council of the City of
Fairfax, Virginia, at the City Hall, Fairfax, Virginia, until
8 o'clock P.M., Eastern Daylight Saving Time, June 18, 1968, for
$400,000 General Obligation Bonds of the City of Fairfax, Virginia,
dated March 1, 1968, maturing annually, March 1, in the years 1970
to 1991, inclusive, as heretofore provided by the City Council, at
which hour bidding was closed and the following bids were found to
have been filed and to accord in all respects to the terms of said
advertisement, each bid offering t9 pay accrued interest and en-
closing a certified or bank cashier's or treasurer's check for
$8,000 payable to the order of the City Treasurer of the City of Fair-
fax, Virginia:
(1) Bid of Horner, Barksdale & Co.
offering
to pay $ 397,600.00 for said'bonds'bearing interest at the
rates set forth below in Column I.
(2) Bid of F.W. Craigie & Co., Inc.
offering
to pay $ 393,908.80 for sai'~ bond~ bearing' interest at the
rates set forth below in Column II.
(3) Bid of
offering
~o'"~aY'$ f'0r said'bonds bearing interest at the
rates set forth beiow in Column iii.
(4) Bid of
offering-
to pay $ for said bonds bearing interest at the
rates set forth below'in Column IV.
(5) Bid of
offering
to pay $ for said "bonds bearing interest at the
rates set forth below in Column V.
Year of Principal
Maturity Amount I II III
IV V
1970 $10,000 4.875% 4.5 % % %
1971 10,000 " % " % % %
1972 10,000 " % " % % %
1973 !0,000 " % " % %
1974 15,000 " % 4.9 % % %
1975 15,000 ,, % " % % %
197~ 15,000 " % ,, % % %
1977 15,000 " % " % % %
1979 15,000 ,, % ,, % % %
1979 15,000 ,, % " % % %
198w 15,000 ,, % " % % %
1981 20,000 % ,, % % %
1922 20,000 % " % % %
1983 20,000 % " % % %
1984 20,000 " % ,, % % %
1985 20,000 " % 5.1 % % %
1986 25,000 %
1987 25,000 " % , % % %
1988 25,000 '" % ,, % %
1989 25,000 " % " % % '%
1990 25,000 " '% __5_~% .... % %
1991 30,000 " % 5.2 % %. %
%
%
%
%
%
%
%
%
%
%
%
%
%
%
%
'%
Section 2. The bid offering to purchase the bonds at the
lowest interest cost to the City, such ~ost being determined ~y
adding the total amount of any discount bid to and by deducting
the total amount of any premium bid from the aggregate amount of
interest on all of the bonds from their date until their respective
maturities, was the bid of Horner, Barksdale & Co.
offering to pay $397,600.00 for said bonds, and accrued
interest for said bonds bearing interest at the rates set forth in
Column I of the foregoing tabulation.
Section 3. Said bid ~ 4.91655
is
hereby accepted and said""$'4'00,000 General Obli'gati~n Bonds are hereby
awarded to Horner, Barksdale & Co.
at the price of~ $397,600.00 and accrued interest for said bonds
bearing interest at the rates set forth in Column I of the fore-
going tabulation. Delivery of said bonds is to be made on or about
July 9, 1968, in Richmond, Virginia .
Section 4. The checks of unsuccessful bidders shall be
returned immediately.
Section 5. There shall be printed on the reverse of each
of said bonds the legal opinion of Mitchell, Petty & Shetterly
respecting the validity of said bonds and, immediately following such
legal opinion, a certificate signed with the facsimile signature of
the Mayor of the City substantially as follows:
"I HEREBY CERTIFY that the foregoing is
a true and correcU copy of the legal
opinion upon the bonds therein described
which was manually signed by Mitchell,
Petty & Shetterly, New York, N. Y., and
was dated as of the date of delivery of
and payment for said bonds.
.......... (Facsimile Signature) ...... , Mayor
of the City of Fairfax, Virginia"
Section 6. Ail steps necessary to carry this resolution
into effect shall be taken by the proper officers of the City of
Fairfax.
Adopted:
June 18, 1968
Mayor
Teste:
Ci~ Cl~rk
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