MINUTE BOOK No. 17, CITY OF OXFORD

MINUTE BOOK No. 17, CITY OF OXFORD'-,--'~~~---------------.-~a-M-K-T-O-M-L.-K-ET-CH-IN-G-SC-O-.• -N-AT-CH-EZ---------------------------------------------------------------------------~-: -'The Mayor and Board of Aldermen again took up for consideration the matter of thesale of Two Hundred Thousand Dollars ($200,000) Electric Distribution System Revenue Bondsof the City of Oxford, Mississippi, pursuant to a resolution ado';>ted on the 16th day ofApril, 1958.The City Clerk reported that, pursuant to the aforesaid resolution, he did cause tobe published in the Oxford Eagle, a newspa er pUblished in the City of Oxford, a notice thatsealed proposals for the purchase of the aforesaid bonds would be received by the Mayor andBoard of Aldermen at the office of the City Clerk in the City Hall in said City until the hourof 8:00 o'clock P. M., on Tuesday, the 6th day of May, 1958; that said notice was published insaid newspa)er on April 17, April 24, 1958; and the Cit;;, Clerk presented to the Mayor andBoard of Aldermen proof of pUblication of said notice in the aforesaid newspaper.The hour of 8:00 o'clock P. M., on Tuesday, the 6th day of May, 1958, having arcived,the City Clerk reported to the Mayor am Board of Aldermen that, pursuant to the aforesaidnotice of bond sale, there had been filed with him, at or prior to the hour of 8:00 o'clockP. M., on Tuesday, the 6th day of May, 195?', six (6) sealed proposals for the purchase of theaforesaid bonds of the City of Oxford, Mississippi, and the City Clerk then and there presentedsaid sealed proCJosals to the Mayor and Board of Aldermen.Thereupon, it was ordered by the Mayor that the City Clerk proceed to open the saidsealed proposals and to read the same aloud in the presence and hearin~of the Mayor andI"Board of Board of Aldermen and of the bidders and other persons assembled.The City Clerkthereopon proceeded to open and read the aforesaid bids, wnich are sQ~arized as follows:NAME OF BIDDERFOR BONDS BEARINGINTl::R.EST AT THERA TE OR RATES OFAMOUNTOF BIDAVERi,GEINTERESTRATEPhi11ips-Galtney & Co.Alvis & ComQanyKroeze, McLarty & Co.Harrin~ton & Co, Inc.Hamp Jones CompanyM. A. Saunders & Co., Inc.3 %2~% - 1961 thru 19653% - 1966 thru 19704% - 1961 thru 19h32~% - 1964 thru 19~52 3/4 - 1966 thru 19692, ~ -,19703.812152 7/8 % - 1961 thru 19(,52 3/4 % - 19662 7/8 % - 1967 thru 19703 i %$200,000.0079,000.00121,000.0045,000.0034,000.0095,000.0026,000.00200,000.0079,000.002~,000.0098,000.00200,000.003 %2.8756%2.7937%3.81215Following the readin~of the bds the Mayor and Board of Aldermen proceeded to considerthem for the purpose of determinin~ which was the best and most advanta~eous bmd submitted.After a full consideration of the bids, Alderman Lovelady offered and moved theadoption of the fo110win~resolut,~on:/IA RESOLUTION DIRECTING THE SALE AND AWArID OF Tim HUNDREDTHOOSAND DOLLAri.S ($200,000) ELECTRIC DISTRIBUTION SYSTEMREVENUE BOi~DS OF THE CITY OF OXFORD, MISSISSIP?I, DATEDMAY 1. 1958." I,