MINUTE BOOK No. 17, CITY OF OXFORD

~-------- ---- ----_.--_._--r-----... -.- ---.----------­IMINUTE BOOK No. 17, CITY OF OXFORD--;;:,;-----,-- ------- - 1-----;The Mayor and Board of Aldermen took ur again for corsideration then,atter of the sale of Twenty Thousand Dollars ($20,000.00) Special Streetlreproverrent Bonds of the City of Oxford, ttiississippi, pursuant to aresolutionadopted by said Mayor and Board of Aldermen of the ~ityof Oxford on the4th day cf October, 1956.The City::::lork reported that, pursuant to the aforesaid resolution, hedid cause to be published in the Oxford L.agle, a newsPaper published in theCity of Oxford, Lafayette 8ounty, Mississipri, a notic8 that sealed proposalswould bf received by the Nayor and Board of Aldermen at the City Hall in saidCity until the hour of 7:30 ?V., on Tuesday, the 23rd day of October, 1956, andthat said nC'tice was jrublishfd in said newspaper on Octob"'r 11th; and 18th, 1956;and the City Clerk presented to the t-Cayor and Board of Alderrnen proof of pUblicationof said notice in the aforesaid newspaper.At the hour C'f 7:30 F. M., on Tuesday, the 2Jrd day of October, 1956, theCity Clerk reported to the Mayor and Board of Aldermen that, rursuant tothe aforesaid notice of sale of Special Street lrnrroverrent Bonds, there hadbeen filed with him, at or prior to th,,::, hour of 7:30 F. }:., on Tuesday, the23rd day of October, 1956, One (1) sealed proposal for the pu}'lehase of TwentyThousand Dollars ($20,000.00) Special Street Improvement Ponds of the City ofOxford, Lafayette County, Hississiq::i, and the Clerk then and there Fresented saidsealed proFosal to th" Mayor and Board of Aldermen.Thereupon it was ordered by the Vayor that the City Clerk proceed toopen the said scaled proposal and to read the san .. ~aloud in thF rresence andhearing of the Nayor and Board of Aldermen and of the bidders and otherpersons assrnbled. The City Clerk thereupon proceeded to open and read theaforesaid bid , whi ~his suncn:ariZfd as follows:Narre of BidderFor bonds BearingInterest at therates ofArr;ount of BidNet InterestCostM. A. Saunders andCompany1957 - 19611962 - 1966Fremium $11.003.421%Following the reading of th bids, the Nayor and Board of Alderrnenprocet?ded to consider there for the purpose of determining which was thebest and most advantageous bid submitted. Whereupon, Alderman B. O. Flliottoffer,d and moved theadoption of a resolution rejecting all bids and directingthat said bonds be sold at public auction.This motion was seconded by AlderrranH. S. Sisk and being put to a roll call vote and all alderrrJen present votedaye and it was so ordered.Following the rej ection of said bids the 1, ayor and Board of Aldernen thenstated to those assembled that they intended to sell such bonds at public auctionand the floor was open for bids on said bonds; Thereupon the following bid was