19710406 r-71-8 R-71-8
RESOLUTION providing for the sale and
award of $1,000,000 Water Revenue Bonds,
Series 1970, and approving and author-
izing the agreement of such sale and
award.
WHEREAS, notice of sale of $1,000,000 Water Revenue
Bonds, Series 1970, of the City of Fairfax, Virginia, has here-
tofore been given in strict compliance with law and the orders
of this Council, thus enabling everyone interested in said bonds
to present a proposal in connection therewith; and
WHEREAS, all bids have been received and duly con-
sidered, the substance of the best bid being $ 982,100.00
and accrued interest for bonds bearing interest as follows:
bonds maturing in the year 1995 at 6.00 %
bonds maturing in the year 1996 at 6.00 % and
bonds maturing in the year 1997 at 5.90 %;
NOW, THEREFORE, Be It and It Is Hereby Resolved by the
Council of the City of Fairfax, Virginia, as follows:
Section 1. That upon being advised in the premises it
is hereby determined that the bid of Phelps, Fenn &Companv
for the purchase of $1,000,000 Water
Revenue Bonds, Series 1970, as advertised and as prescribed by
the ordinance heretofore adopted March 23~ 1971, with the
bonds bearing interest at the respective rate(s) as follows:
Maturities
1995.
199b
1997
upon terms of $. 982,100. O0
Interest Rate Per Annum
6.00
6.00 .... ~
5.90 _~
and accrued interest, is the best bid
received and that said bonds be and the same are hereby awarded
(Rev. 3/15/71)
-' R-71-8
to said Phelps,. Fenn & Company
as being the best terms for the interests of the city.
Section 2. That said Water Revenue Bonds, Series
1970, when issued shall bear interest at the respective rate(s)
hereinbefore provided.
Section 3. That the form of proposal for the purchase
of said bonds be and the same is hereby approved, and the Mayor
and City Clerk are hereby authorized to execute the form of
acceptance thereof for and on behalf of the City of Fairfax,
Virginia, and to affix the corporate seal of said city thereto.
Section 4. That all resolutions, or parts thereof,
in so far as same may be in conflict herewith, be and the same
are hereby repealed, and this resolution shall become effective
forthwith upon its adoption and approval.
Adopted by the Council April 6
Approved April 6
Attest:
, 1971.
., 1971.
or
The above resolution is hereby certified to and ap-
proved by me as to legality and correctness of form this 6th
day of April ,,, 1971o
City Attorney
-2-
R-71-8
I, ,,,, do hereby certify that I am
the duly qualified and acting City Clerk of the City of Fairfax,
Virginia, and that as such official I have in my possession or
have access to the complete corporate records of said city and
of its Council.
I do further certify that the attached resolution
adopted by the Council on .., 1971 and entitled:
"RESOLUTION providing for the sale and
award of $1,000,000 Water Revenue Bords,
Series 1970, and approving and author-
izing the agreement of such sale and
award,"
is a true, correct and complete copy of said resolution as
adopted and as the same appears in the official records of said
city on file in my office.
WITNESS my official signature and the corporate seal
of said city at Fairfax, Virginia, this day of
1971.
City Clerk
(sm )
COMMONWEALTH OF VIRGINIA
COUNTY OF FAIRFAX
SS.
Subscribed and sworn to before me by said
this day of , 1971.
Notary Public