4 - City of Oxford

41 (1
97768—mmos-warom
MINUTE BOOK No. 24, CITY OF OXFORD
The Cith Engineer, pursuant to resolutions adopted, respectively, on the
20th day of February, 1969, and on the 1st day of July, 1969, filed with the
Mayor and Board of Aldermen his written estimates of the cost of making improve.*
ments on Pegues Street and on South 9th street in the City of Oxford. The said
estimates are summarized as follows:
For Pegues Street: $40,000, less $23,000 to be paid
by Oxford Community Homes, Inc., leaving to be provided $17,000
For South 9th Street: 8,000
Total costs to be provided: $25,000
Thereupon, Alderman Hannafvrd offered and moved the adoption of the
following resolution:
RESOLUTION DIRECTING THE PUBLIC SALE OF TWENTY-FIVE
THOUSAND DOLLARS ($25,000) SPECIAL STREET IMPROVEMENT
BONDS OF THE CITY OF OXFORD, MISSISSIPPI, TO BE DATED
OCTOBER 1, 1969.
SECTION 1. That Twenty-five Thousand Dollars ($25,000) Special Street
Improvement Bonds of the City of Oxford, Mississippi, be offered for sale to tht
highest bidder therefor on the 21st day of October, 1969, for street improvements
on Pegues Street and on South 9th Street in said City.
SECTION 2. That said bonds shall be sold on sealed bids to be filed
with the City Clerk at his office in the City Hall in the City of Oxford, Missis.0
sippi, at or before the hour of 7:30 o'clock P. M., on the aforesaid date;
each bid to be accompanied by a certified or cashier's check or exchange, pay-
able to the City of Oxford, Mississippi, issued or certified by a bank located
in the State of Mississippi, in the amount of two per centum (2%) of the face
amount of bonds to be sold as a guarantee that the bidder will carry out his
contract and purchase the bonds if his bid be accepted. If the successful bid
der fails to purchase the bonds pursuant to his bid and contract, the amount of
such good faith check shall be retained by the City of Oxford, Mississippi and
paid into the City Treasury as 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 (60) days after the date advertised for the receipt of bids, at a
price not less than the highest bid which shall have been received for said
bonds at such advertised sale.
SECTION 3. 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
likewise to be designated in their bids; provided, however, that all bonds of
the same maturity shall bear interest at the same rate, which shall be a multiple
of one-eighth of one per centum (1/8 of 1%) or one-tenth of one per centum (1/10
of 1%).