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Council minutes
~~YEClht, ~u-EETii~G)
Pulaski, Virginia, march ~1, 19a6
NOTICE
TO ~EHS OF Tl3E CUliI~ICIL OF THE TUVu~~ OF PtJLkSKI
Vir~Gl.lul~:
You, and each of you, are hereby notified that there
will be a special meeting of the Council of the Town of Pulaski,
Virginia, to be held at the ~ayor~s Uffice on Thursday, March
~lst, 1946 at 1:30 o'clock P. ~i., for the purpose of opening'
bids on the purchase of Ntater ~aorks Bonds in the sum of
Five Hundred Fifty Thousand 1~550,000.UU) Dollars, according
to resolution of the Council passed on march ist, 1946, and for
the purpose of awarding said bongs to the lowest responsible
bidder on the basis of the lowest interest cost to the Town,
but no bid will be consiaered for less than par.
nOt1Ce.
ill of which you, and each of you, will take due
Given under my hand this ~Uth day of march, 1946.
.~
i~iayor of th own of Pulaski,
V ginia.
4~e, the undersigned, members of the Council of the Town
of Pulaski, Virginia, do hereby accept notice of the above
special meeting of the Council to be held o n Thursday, ~dreh
~lst, 19a6 at 1:3U o~clock P. ~.
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Council Minutes Pulaski, Virginia, Yarch 21, 1946
(SPECII~L ~a~;ETING)
The Council of the Town of Pu12ski, Virginia, met
in special session at the ~uayor' s off ice of the Town of
Pulaski, Virginia at 1:50 o'clock P. ~-., on the ~lst
day of March, 1946, pursuant to notice in writing signed '~
by all the members of the Council.
rnk.~~~' Present: mayor ~. `i'. Eskridge, presiding, and
Councilmen:
0. P. Jordan, Jr. F. x. Seagle
T. r'. ~Yirt :T. rt. Carper
Howard K. lmboden Ihi. ll. Bust
~~. F'. '~rhite G. C. Hall
Kbsent: - None.
PuttrOa~ U~ The Mayor stated the purpose of the special meeting,
;i~~,r,'I' i1V G
UY~ai1VG as set forth in the written notice signed by all the members
t~Ilia
v~nlEtc of the Council and attached to and made a part of these
tSt7iV li b
minutes, was for the opening of bids on the purchase of
Water Works Bonds in the sum of Five Hundred Nifty Thousa.~id
(~55t7,000) Dolls.rs, and for the purpose of awarding said
bonds to the lowest responsible bidder.
In connection with the s~.le of said bonds, the vapor
stated that the printed advertisement for the sale of said
bonds as published in the Bond Buyer and mailed to prospet~tive
purchasers did not stricly comply with the wording of the.
proposed advertisement, as set forth in resolution adopted by
the Council on march 1, i9~6, and that the descrepancy be~lween the
wording of the original resolution and the advertisement ~s
printed had been brought to the ~.ttention of Scott, Hornelt &
Mason, Inc. , of Lynchburg, Virginia and Yvood, Hoffman, Ki#~g &
Dawson, bond attorneys, of New York City, in an effort toy' I~
have this matter corrected while the bonds were being aciv~rtised
and before the ultimate sale.
~!
The Mayor fsartne~?,: stated that he was advised by f
Scott, Horner ~c Cason and food, uoffman, King ~c llawson, t~lat ~
all that would be necessary in this connection would be fair
the Council to adopt a resolution on the day of sale of t~je
bonds. Thereupon, the Mayor presented to the meeting suc~I
`806
Council Minutes contd. Pulaski, Virginia, March mil, 1946
resolution as prepared and submitted ~by `r`rood, Hoffman,
King ~ Dawson, and after consideration, the suggested
resolution, on motion of Councilman 0. P. Jordan, Jr., the
following resolution was offered for adoption:
KESOLU'ri0v ttaT1FYliuG ~:Hh Y~'sLiCh`:Uly OF 1vU'IC~; UF'
ttr,aULJTOiv Si~t-~ OF ~'IVF r~tlvUh~l~ FiF~Y '1'hUtJ~N.VL t1ULLrsYt-5' ~~v55U,000) YYtal"rlt
YYUl~Ku .tiU1Vli-~.' UF' 1`~i~ `IUYYIV UF' PULxSKI, Vl'ttCilltillfi.
Gtihereas by resolution adopted Marcn 1, 194x,
the Council of the Town of Pulaski provided for the issuance,
fixed the form and details, and provided for the sale of
Five hundred Fifty thousand voilars 1~55U,(1uU) 4uater 4~orks
Bonds of said Town; and
Y~hereas the notice of sale of said bonds as published
in `1`he llaily Bond Buyer on March 5, 1946, did not conform
exactly to the form of notice prescribed in said resolution;
1VOYr, Tri~tir,FUti~, t'sF 1.T ti.C,SULVEU by 1'Hr, COU1vCi, OF
THh TUYaty OF PUi,hSKI, VTnGTivlb:
1.. That the publication of the notice of sale
of said Five y`undred .fifty Thousana collars (~550,UUU)
Yuater Yyorks Bonds of the Town of Pulaski, Virginia, in 'i'he
Bond Buyer on larch 5, 1946, be and the same hereby is
ratified, confirmed and approved.
2. That notwithstanding any statement contained
in said notice of sale as published, said bonds shall be.
issued and the obligation of the Town of Pulaski to levy
taxes for the payment of principal-of~and interest on said
bonds and to apply revenues derived by the Town from the
operation and ownership of the water works plant or system
to the payment of principal of and interest on said bonds,
shall be as prescribed and provided for in the resolution
adopted by the Council of the Town of Pulaski on March 1,
1946.
3. This resolution shall take effect upon its
adoption.. approved March 21. , 1946.
mayor
L~
(cont~d)
8~`7
Council minutes contd. Pulaski, Virginia, march 21, 194
Upon second to Councilman Jordan's motion, said
resolution was adopted by recorded vote of the Council, as
follows:
YEkS: 0. P. Jordan, Jr. F. h. Seagle
T. F. Wlrt I. .~. Carper
Howard Ft. Imboden W. U. gust
W. F'. White G. C. Hall
NAYS: None.
fs1L'~ The Council then proceeded to consider the bids
submitted for the Water Yorks Bonds.
It appearing from a resolution adopted on the
lst day of March, 1946 that the b'ive ~~undred Fifty Thousand
~~p550,UUU) llollar u~ater ~rorks Bonds of the Town authorized
at an election held on January 15, 19a6 were to be sold at
a meeting of the Council to be held on this date, larch 21,.
1946, at z:UO o'clock Y. i1i., after publication of notice
of sale of said bonds at least once in the Uaily Bond Buyer
published in the City of vew York, State of 1Uew York, the
said bids to be submitted to the Council at 2:vU o'clock
Y. ~s+i., ~~r~h 21, 1y46, and that pursuant to said notice of '
dale as published in the Baily Bond Buyer of the City of
1Vew York in its issues of March ~ , 196, March ~,
1946, and ~uarch ~~ , 196, and other advertisement and..
publicity relative to said sale, anti in accordance with sari
advertisement and publicity, eight ~8> bids v~ere presented~~to
the Council, the Mayor stating before the bids were opened'
that the Council would like to .snow if any bidder present
did not fully understand the proposals, whether anyone pre~~nt
had not been given an opportunity to submit a bid, and if
there were any questions on the pert of those vrho had sub-
witted the proposals relative to the terms and conditions
upon which the bids had been submitted.
iVo one asking to be heard, the mayor directed tl~
Clerk to proceed with the opening and reading of the bias.
CO~+.il~1r,E The Mayor then appointed a committee composed offs
Councilmen T. F. r~irt, 0. Y. Jordu.~, Jr. and ~u. ~. ~rhite toy
act with h. a~.Gs.te~TOOd, airector of public works, for
~`~~~8
Council minutes contd. Pulaski, Virginia,. &~arch 21, 1946
tabulation of the bids and to report back.
~.fter a little while, the committee returned and the
tabulation of the bids having been submitted showing the lowest
bid with the net interest cost to the Town of 1.174, Councilman
.E. n. Sedgle offered the following resolution providing for the
sale of the ~55U,UU0 4~~ater forks Bonds to F. +t~. Craigie be Company
of h~,el'~aond, Virginia and Peoples National ~sdnk, Charlottesville,
Virginia, jointly, as the best bid in the interest of the Town
of Pulaski:
,~ESO.UUT1gAi TO S~t+L F'. ~+~ ~k~G~~ &Cp~P~3~, h~C.c3~U,
V~~tt~~Al~,~ ~U ~'~UPnES lu~Y'~: , CHt~,R~,OTTESVII,LE, V.IHG11yI~,
L~
JOIri'1L~ ~'F'VE IiU7NUHEU FTF'TY~~, UO) DULi,t~.tt5 1't74yN OF' PuL~~I,
ViRGZtdi~i ~ie'I~x 1frU1=iK5 BUi~fLS ~T Trir; fslli SUB~1T'TEll.
NrHBFtEaS by resolution adopted on march 1, 1946, the
Council directed the advertisement for bids for the sale of
Five hundred Fifty Thousand 0550,000) Dolurs ~~dter v~orks Bonds
of the T~wxt of Pulaski as authorized at an election held on January
15, 1946, for the improvement and extension of the grater ~tiorks
system of the Town of Pulaski by acquiring all necessary land
for rights of way, the construction of an impounding dam, filter
plant, pumping station and installation of water mains, etc., and
VuHEttEtiS said resolution provided for the opening of
bids at a meeting of the Council to be held on March 21, 196
at 2;uU O'clock, P. ~., and
4tiBE1t~S bids were received as follows:
Interest rate Interest
Earliest note
~ ~at~?ri.ties Hems.irid~ nv a e
1. F. au. Craigie ~c Co., .ttichmond,
V a. ~rrl'I, uU0 ~ 6 jo x:4`75, UUO l .l"l4
~'eoples National Bank,Charlottes-~,
_..-__ .
vide, Va.
By: ~`. ur. Craigie ~: Co.
r'. r~ilson Craigie
l~?~i BYE
~. ,~i Px. Brown ~c aons~, balti~iore. ~+id.yy~5,0i~t~: 2h ~v505,.U~0
C F. Cas sel ~c Co,,. lnc. Charvl., Vs3• ~ 1. ~U~ 1.. N09
C,~,Qodwvn ~ 01 n ~, Sushi ngton.li~c.
By: C. ~`.Cdssell ~ Co., lnc.
(signed) ~. C. Gunn
tiye veil pay rive nuniired nifty 'Thouauna ilne jlundred sixty-give and
.~oJluv Lollurs ~~55U,165.UU).
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Council minutes contd.
1Vame
~. S~c~ttT HnrnPr ~a j~a~on Inc_
~ S ne tt. H. Brooke Jr.
~uianager, municipal Bond Dept.
Pulaski, virginia, march ~1, 199
Interest rate Interest
Ear:iiest rate
ialaturit s remainder ev g
~a'r, uuu ~ 6a ~~s3, UuU L . ~~
v 1%
~. Pulaski iyational bank, tigt. ~~5,UUU ~ 5~ ~5U5,000
Pulaski, Virginia ~ 1.30
for ~traucx ~c Co.~~
1~3 So. Broad St, '
Philadelphia, Pa.
By:~,~~nP ,~ Curtis C_Jord~n,
Cashier
5. Pulaski ivational Bank, mgt. ~w45,UU0 ~ 5~ X505,000
Pulaski, Virginia ~ 1.30
for tt. S. Dickson ~c Co. Inc.
New York
By:sSigned~ Curtis C.Jordan,
Cashier
6. John yuyeen ~ Co. X115,000 ~ 3% ~~45,UVU.
Otis do Uo. ~ 1-/4i~
Jack ~~ Fsass ~c Co.
By: (aigned) d~.~. mood,*Jr.
y~e tai pdy .hive Hundred r~1 ty Z'housuna l~lr~e Hundred arld
35/lUU i~ollars ~~55U,UUU.35) .
?. Halsey,,. Stuart ~ Co..Inc. X73,000 ~ ~2J ,~; -4'7'~,QOOw.~'~
First of Michigan Corporation ~ 1-1/~%
j~shville SecLrities Com.~v
8.
~Sy:(5ig~ned~ Halsey Stuart & Co..inc.
35 Wall Street, iV ew York 5, ~~ . Y .
By : ~~,~n .c ,~ S . H . Harris
r+e gill pay Fine randred fit ty 'i'housanu orie ~ur~dred Ten anti r~Q/lUJ
Loilurs ~~55U,.lU.UV} .
llavidson ~ Company, Inc, X45,000 ~ 3% ~:505,A00,
Knoxyi 11 e~ `1'pnnessee
By: Signed) H. S. Harrison ~ 1-1/~~ ',
C. H. 1'itt.ie ~c Companyn~
Knoxyi 1~,~,~ `i'P.Yln . ~ .P
By: i-~' ne) it~,y ~_ Bu_rton
~Ye will p~.y rive llunurea elf ty 'T~ioucuna Jeven ~lunarea ~everit ' seven;
arld lyo/luU Loliurs 1w55C,'-~r~'7.~uj .
^+
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Council minutes cont' d.
Pulaski, Virginia, march ~l, i9~6
Y~HEtt~xS the bia of F. ~~. Craigie ~c Company, Rich~aond,
Virginia and Peoples iVational Bank, Charlottesville, Virginia,
jointly, is the best bid received ana in conformity with
the printed notice of stile and the official proposal form
issued prior to such sale, anii vrh~;~h said bid was in the
following words and figures, to-~;+it:
YttOPO-~~ f'Ori BO1~iLS
~~.rch ~1,. 196
Council of the Town of Pulaski
Pulaski, Virginia
Sirs: -
y+e make the following offer for the pond Issue of file
Town of Pulaski, Virginia, described in the annexea notice
of sale, which is Hereby wade apart of this bid:
(The bi~i~er will fill in only one of the tvro alternative
bids provided below and cross out the other.)
~~
`or X55 U00 1Vater auu s Bonas be ing inte\~e`st at ~--~°
pernnum, '
Or
L~
For X550, U00 eater y~orks bonds, ~,~3.0_.,,_ OU___ _u0 of said ponds
of the earliest maturities bearing interest at --6~---~ per
annum, ~.nd the remainder bearing interest at --1---% per
annum, . _
Vie v~ill p~.y FIVB tiUlVliHr.ll kl
DOLi,ntc~
- - - - .
Vie will also pay accrued interest to date of delivery at
rulaski, Virginia, or at Chg~~~~- Bank ~ Trust Com~an~• in
i~Pw York~,~_Y_ ana pay the costs thereof in accordance vaith
said notice.
VVe enclose herewith certified check for ~11,000.OU
payable to the order of the Town of rulaski, Va., which
enclosure is to be returned to us if this bid is not accepted,
but otherwise is to be deposited by said Town, ana when the
bonds are delivered ana pain for under the terms of this
bia, is to be considered an advance part payment therefor, or
is to be returned as and f'or liquidated uar~ages in case we
fail so to take up and pay for the bonds.
F'. ~Y. l;tinlt~lr; Cx CO. ~ t1iCYlmond. Va.
PEOrLLa tuhTiU~~, Baiuri, Charlottesville, Va.
Bv: F`. Yr. Craigi.Q ~c Co.
(Signed) f' • ~~ilsori Graigie
~cont`d)
'.~
Council Minutes contd. Pulaski, va., march 21, 1946
tN~,~TEttl+i uidl0iv
~' Pi1-- 47) .
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xuC30 ~~ - Gtt tiiC~+UitiL Vitt ~1 1039k
Mtt~ LO`1"i'iB tt xuiuiUlu, Y'0~~~:~1 CLBI-s~-
~~E OLx BIL Pt~LhSKI~ rcE.~L F'Itt-~T 77,00 xS 51~E5 B~i,,~uC~; OivES.
`1:H1S V~IttL+ TO BE kT`i`nt:riEL 'i'U ~uL ~:x~~, r~n`1' OF .~i~1L~L 1~I1,i5_
F' ~ CxalGlE ~ CO.
FUrtTi3.~rt, FsB iT itESULVEll by the Council of the Town af,
Pulaski, Virginia, that the bid of F. 4`u. Craigie ~ Company,
tichmond, Wirginia, and reoples rational Bank, Charlottesvil.le~j
Virginia, jointly, be and the same hereby is accepted, and upon
the payment of the sum of money bid far said bonds by F. W.
Craigie ~c Company, Richmond, Virginia, and Peoples National ~a~Ak,
Charl~~te~Yille,.~jirginia, jointly, the said bonds be-delivered..,
to them in such proportions as they may jointly direct.
BE IT Flirt'1riEt~ iiE~O~,Vhli that all bids except that of
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F. 4'~. Craigie & Company, Richmond, Virginia, and reoples i4atioiial
Bank, Charlottesville, Virginia, jointly, be and they hereby
are rejected.
BE 1T r'uiiTHr,x xEaOLVEll that the s~4~'ti~~d check in
the sum of Eleven Thousand liollars <~~-1,UUtJj, accompaning the
bid of F. 4ti. Craigie ac Company, richmond, Virginia, and Peopled
ivdtional Sank, Charlottesville, Virginia, in conformity with
the printed notice of sale be deposited by the Town Treasurer
and credit therefor allowed on the purchase price of said
bonds.
Councilman ~''. ~. Beagle moved the adoption of the
foregoing resolution, and upon second to motion of Councilman
5eagle, the resolution was adopted by the follo:~:ing recorded
vote:
YES; 0. Y. Jordan, Jr.
1' . ~'. ~~irt
~io~varc~ tt. lmboden
Vii. F', vrillte
1ui~Y5: 1Vone
F. x. 5eagle
1. tt. Carper
Va. 1~. bust
.~. C. Hall
~ cont `d)
Council Minutes cont'a. rui.aski, ~a., March 21, 196
kllJC7Ui-tN-
Mr,I~JT
There being no further business, on motion duly
made, seconded ano unanimously passed, the Council adjourned
at 2:55 o'clock, r: M•
approved
iri a r
h~t:
vu-
lerk of Council
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