MINUTE BOOK No. 17, CITY OF OXFORD

~~----~//I'II71IMINUTE BOOK No. 17, CITY OF OXFORD•~~ ,_________________U_2U_k __ TO_M_L_,_kE_TC_H_'N_GS_C_O._.N_A_TC_HE_Z __________________________________________________________________________ ~submitted by the Fist National Bank, Memphis, Tennesse~:Name of BidderFor bonds Ber~ingInterest at therate ofAmount of BidNet Interest CostThe First N'ationalBank, Merrphis, Tenn.3*% 1957-19633t 196~ - 1966$2.55Premium3.375There being no other or further bids, Alderman B. O. Elliott offered andmoved the adoption of the following resolution:RESOLUTICN DIRf':£TING SAL E AND AWARD OF TW.illTY THC'USAND DOILARS($20,000.00) SPECIAL STRFET IMRPOVTI! PNT BONDS 0F THE CITY OFOXFORD, LAFAYS':l:'I't o OUNT1 , MISSISSIPPI, DATJID [NeWNBill 1, 1956.WHEREAS, the Mayor and Board of AlderrLen of the City of Oxford, Mississippi,on the 4th day of October, 1956, did adopt a certain resolution directing thatTwenty 'lhousand Dollars ($20,000.00) Srecial Street Improvement Bonds of theCity of Oxford, Lafayette County, Mississippi, be offered for sale on sealed bidsto be received at the City Hall at Oxford, MiSSissippi, until the hour of 7:30P. 1.,;:., the 23rd day of October, 1956; and.. J'WHLR~S,as directed by the aforesaid resolution and as required by Chapter325, Laws of Mississippi, 1946, the City Clerk of the City of Oxford did givenotice of the sale of said bonds by publication in the Oxford Lagle, a newspaperpublished in the City of Oxford, Lafayette County, Mississippi; said noticehaving b.~enpublished in said newSpaper at least two times, and the first publicationhaving b0en made at least ten (10) days preceeding the 23rd day of October, 1956;all as shown by proof of [ublication of said notice filed in the office of the CityClerk; andWHliREAS, the }ayor and Board of Aldermen did meet at the office of the CityClerk in the City Hall at 7:30 P. M., on Tuesday, the 23rd day of October, 1956; andWHER1~S, .at said time and place One (1) s~aled proposal for the purchase o~said special street improvements bonds was received, examined and considered bythe Mayor and Board of Aldermen; andvJHEREAS, the Mayor and Board of Aldermen did find and deterrnine that it wasnot to the best interest of the City of Oxford, Mississippi to accept said bidand did adopt a resolution rejecting all bids and directing the sale of saidbonds at public auction irrmediately; and whereas when said bonds were so offeredfor sale a bid was rrade on behalf of The First National Bank, }emphis, Tennessee; andWHERF~S, the ~ayor and Board of Aldermen find and deter.mine that the highestand best bid made for said bonds was made by The First National Bank, Memphis,Tennessee and further find that said offer was accompanied b,)a check payable tothe City of Oxford, Mississippi, in the amount of Four Hundred Dollars ($400.00),(as a guarantee that said bidder would carry out its contract and purchase thebonds if its bid be accepted.NOW TP !:'REFOR?:, BE IT Ri.'SOLVED BY THE' MAYOR AND BOARD OF ALDffiFN OF THECITY OF OXFORD, MISSISSIPPI, AS FC'ILOWS: