4 - City of Oxford

MINUTE BOOK NO. 2 4, CITY OF OXFORD 20-C
liquidated damages for such failure. The Mayor and Board of Aldermen reserve
the right to reject any or all bids submitted and, if all bids are rejected,
to sell said bonds at private sale at any time within sixty days after the
date advertised for the receipt of bids, at a price not less than the highest
bid which shall have been received at such advertised sale.
SECTION 4. That bidders for said bonds be requested to designate in
their bids the price they will pay for bonds bearing interest at a rate or
rates, but not more than four (4) different rates, likewise to be designated
in their bids; provided, however, that all bonds of the same maturity shall
bear interest at one and the same rate, which shall be an even multiple of
one-eighth of one per centum (1/8 of 1%) or one-tenth of one per centum (1/10
of i%), and the difference between the highest rate bid and the lowest rate
bid shall not exceed two per centum (2%). No bid specifying supplemental in-
terest coupons will be considered.
SECTION 5. That, as required by Chapter 325, Laws of Mississippi, 1946,
the City Clerk shall be and is hereby authorized and directed to give notice
of the sale of said bonds by publication at least two times in the Oxford Eagle,
a newspaper published in the City of Oxford, Mississippi; the first publication
to be made at least ten (10) days preceding the date set for the receipt of
bids, and such notice to be in substantially the following form:
NOTICE OF BOND SALE
$85, 000
PUBLIC IMPROVEMENT BONDS
(General Obligations)
CITY OF OXFORD, MISSISSIPPI
Sealed proposals will be received by the Mayor and Board of Aldermen
of the City of Oxford, Mississippi, at the office of the City Clerk
in the City Hall, Oxford, Mississippi, until the hour of 7:30
o'clock P. M., on Tuesday, the 21st day of May, 1968, at which time
said bids will be publicly opened for the purchase, at not less
than par and accrued interest, of the above bonds of said City.
Said bonds are to bear date of June 1, 1968, are to be of the denomination
of $1,000 each, and shall bear interest at a rate or rates to
be determined pursuant to sale of said bonds, payable March 1, 1969,
and semi-annually thereafter on September 1 and March 1 in each year.
Both principal of and interest on said bonds will be payable at a
place to be designated by the purchaser, subject to approval by the
Mayor and Board of Aldermen, and said bonds shall mature, without
option of prior payment, on March 1 in each of the years as follows:
$4,000 in 1969 through 1978
$5,000 in 1979 through 1987
Bidders are requested to designate in their bids the price they will
pay for bonds bearing interest at a rate or rates, but not more than
four (4) different rates, likewise to be designated in their bids;
provided, however, that all bonds of the same maturity shall bear interest
at one and the same rate, which shall be a multiple of oneeighth
of one per centum (1/8 of 1%) or one-tenth of one per centum
(1/10 of 1%). The difference between the highest rate bid and the
lowest rate bid shall not exceed two per centum (2%), and no bid
specifying supplemental interest coupons will be considered.