4 - City of Oxford

1
97768 - TOM
MINUTE BOOK No. 24, CITY OF OXFORD
SECTION 4. That, as required by Chapter 325, Laws of Mississippi,
1946, the City Clerk shall be and is hereby authorized and directed to give no-
tice of the sale of said bonds by publication at least two (2) times in the Ox-
ford Eagle, a newspaper published in the City of Oxford, Mississippi; that 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 forms:
NOTICE OF BOND SALE
$25,000
SPECIAL STREET IMPROVEMENT BONDS
OF THE
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 of said City,
until the hour of 7:30 o'clock P. M., on Tuesday, the
21st day of October, 1969, 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 October 1, 1969, are to
be of the denomination iof $1,000 each, and shall bear interest
at a rate or rates to be determined pursuaht to sale
of said bonds, payable April 1, 1970, and semi-annually
thereafter on October 1 and April 1 in each year. Both prin-
cipal 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
serially, without option of prior payment, on October 1 in
each of the years as follows:
$2,000 in 1970, 1972, 1974, 1976, 1978
$3,000 in 1971, 1973, 1975, 1977, 1979
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 two different 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%). The difference
between the highest and lowest rates bid shall not exceed 2%.
Proposals should be addressed to the Mayor and Board of Aldermen,
should be plainly marked "Proposal for Bonds," and should
be filed with the City Clerk on or prior to the date and hour
hereinabove named. Each bid must be accompanied by a cashier's
check, certified check, or exchange, payable to the City of
Oxford, Mississippi, issued or certified by a bank located in
the State of Mississippi, in the amount of 2% of the face amount
of bonds bid for, as a guarantee that the bidder will carry out
his contract and purchase the bonds if his bid be accepted. If
the successful bidder fails to purchase the bonds pursuant to
his bid and contract, the amount of such good faith check shall
be retained by the City, and shall be paid into the Treasury of
said City of Oxford.
The Mayor and Board of Aldermen reserve the right to reject any
or all bids.
These bonds are offered subject to the unqualified approval of
the legality thereof by the law firm of Charles and Trauernicht
of St. Louis, Missouri. The City will pay the legal fees and
will pay for the printing of the bonds and the cost of the