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Home My WebLink About06-02-39! s , Pulaski, Virginia, June 2, 199 Council minutes. Pursuant to notice, copy of which is hereto attached 1 P:LSEJT ?~- ?_w x;40,000 r^^D O V~r!-ilii~ 'VJOR~u REFUNDING BONDS BIDS Ati~J~:RDED fl and signed by all members of the Council of the Tovrn of Pulaski, Virginia, a special meeting of tine Council of the Town of Pulaski, Virginia, was held at the ~ayoris Office at 10:00 o'clock ~. ~. on Friday, June ~, 199. PRESEIJT: Mayor E. I~~. Calfee, presiding, and the following: k. T. Eskridge, T. J. v'lallner, F. A. Se~~gle, G. C. Hall, L. E. ti'uhitesell, J. E. bunts and T. L. James, all being me,nbers of the Council. ABSENT: Councilman ti. :1. Bushong. It being deemed by theCouncil that bid of Granberry & Company and Charles t;. Rinsch ~ Co~~pany, Inc., the highest and best bid offered among those offered and received according to prior resolutipn of the Council. Said bid of Granberry ~ Company and Charles ti. Hins~#~ ~ Company. Inc., having been made to the Council, addressed the :Mayor, according to letter doted irIay ~1, 199, reading; as follows: GR~,NBERRY ~. CO. TRr_CTION bUI~DING CIIvCINi~~:TI, OHIO i~1ay `l, 1959 I~Ir. E. ~`~. Calfee, mayor, Town ofuwPulaski, Pulaski, Virginia. Dear Sir: For your X40,000 Tovm of Pulaski, Virginia, ti'~aterworks Refund~.ng Bonels, dated July 1, 19;~-9 and ~na.turing without option of prio? paym~t as folloi:'s: ~~,000 on July 1 of each year fro. 1 ;40 to 1959, both inclusi'~e, to be~.r interest at the rate of 2z~, ~~er annum, pe.yaule semi-' ;. annually, v~~e will pay you the par value thereof, teat is w40,~00 plus a premium of ~~06.40, totaling 4,40,E-06.40 and accrued interest from the d~:te of the bonds to dote of delivery to usa time further agree to pay the cost off urnishing the necessary bond blanks for your execution. ,' This proposal is made subject to the un4ualified approval of '',our bond approving attorneys as to the legality of the bonds and the proceedings leading up to their issuGnce, s,nd you are to furnish us promptly vaith a complete certified transcript of a i -- ~~~7 Council Minutes Cont. Pulaski, Virginia, June ~, 199 proceedings leading up to the issuance of these bonds; also to take such further action and furnish such further papers as these attorneys may consider necessary to establish the legality of the bonds to their entire sutisfuction. 6i'e further agree to pay the cost of said attorneys approving opinion. ~s evidence of our good faith and the compensation for non- fulfillment, v~~e enclose here~~ith our certified check for x;1,000.00 which is to be returned to us immedi~~tely if the terms hereof' are not satisfactory to you; but if this proposal is accepted, the check is to be held by you uncashed pending our performance in accordazzce with the ter:~s of this proposal and to be applied in part pay:~ent for s~.id bonds urhen delivered to and paid for by us; other~~ise to be cabbed and retained by you as aforesaid. Consistent with good banking practice, time shall be regarded as the essence of this proposal, and if t:ie above bonds have not been delivered to us by August 15, 199, we reserve the privilege of~ option of vrithdrawing fro.n our obligations and undertakings hereunder at any time. It is mutually understood and agreed that your acceptance of this proposal by resolution shall constitute a contract for the purchase end sale of the bonds above described. Respectfully submitted, CHtiRLES A. FIINSCH c4c CO.iPANY, INC. GRxAIBERR~ & COi~PL~N~€ By (S) Earl I~. Shaffer, Joint Agent The above proposal is hereby accepted in its entirety for and on behalf of the Town of Pulaski, Virginia, by resolution passed this 2nd day of July, 199, and the receipt of the above mentioned check for X1,000 is acknorJled`ed by the undersigned qualified offici~:ls. (S) E. b~~. Calfee~ Ma;ror ~S) Lottie R. Bunion Clerk of Council ~~ ~+ 6~7 i P~`'1 ~~ ADJOi7RiJ;~IENT 1 Council Minutes Cont. Pulaski, VirginiaL, June ~;, 19:,9 The above bid was accepted, on ;notion of Councilman A. T. Eskridge, seconded by Councilmen T. J. 5`;fallner, ~vith the following Councilmen in favor of said accept~.nce: A. T. Eskridge - Aye T. J. `u:allner - Aye J. E. Bunts - Aye L. L. rihitesell - Aye T. L. James - Aye F. A. Beagle - Aye G. C. Hall - Aye There were no votes aain~t acceptance of said bid. The Council also authorized the Mayor to accept the offer in the place i~idicated for such acceptance as above set forth, which was accordingly done and copy mailed to staid Charles A. Rinsch & Comp~_ny, lnc. and Granberry & Company. There being no farther business, the Council adjourned at 11:00 o'clock A. i1. Approved: ~ .~luyar ATTEST /~ : ,c~~ Clerk of Council (c ont) ~.... ~~ Council B~inutes Cont. Pulaski, Virginia, June 2, 1939 List of Bids on X40,000 Waterworks Refunding Bonds, opened June 2, 1939: Scott Hoer & D~~son,~nc. - X40,209.99 - Town to furnish opinion ~ynchbur~~ Vir~in~a 2-1/2~ interest Richmond Corp. - 40,266.80, 3~ interest, and furnish Richmond, Virginia opinion. W. B.Bowles Jr. ~ Co. - Roanoke, Va. Pulaski rational Bank- Pulaski, Va. Pulaski Trust Go. - Pulaski, Va. R. S. Dickson & Co. - Richmond, Va. Peoples National Bank - Pulaski, Va. Frederick E. ~~olting, Inc. Richmond, Virginia - 40,30.60, 2-1/2~ interest- Town to furnish opinion Par - 2-3/4~d interest- Town to furnish opinion. 40,148.00, 3f interest - Town to furnish opinion 40, 626.80, 2~4~9~;~ interest - Town to furnish opinion. 41,326.00, 3~ interest - Town to furnish opinion 40,230.40 - 2~~ interest and furnish opinion Charles A. hinsch Co.,Inc. 40,306.40 - 2-1/2~ interest Granberry ~ Company, and furnish opinion and pay Cincinnati, Ohio. cost of bonds. 1