4 - City of Oxford

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97768- MuwFILMIL
MINUTE BOOK No. 24, CITY OF OXFORD
NOTICE OF BOND SALE
$750,000
SCHOOL BONDS
OF THE
OXFORD MUNICIPAL SEPARATE SCHOOL DISTRICT
LAFAYETTE COUNTY, 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 in said City, until the hour of 7:00 p. m., on
Tuesday, the 18th day of November, 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 the Oxford Municipal Separate School
District.
Said bonds are to bear date of December 1, 1969, are to be of the denomination
of $1,000 each, and shall bear interest at a rate or rates,
but not more than four (4) different rates, to be determined pursuant
to sale of said bonds, and no exceeding 7% per annum, payable March
1, 1970, 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 serially
on March 1 in each of the years as follows:
$15,000 in 1970 through 1974
$30,000 in 1975 through 1984
$37,000 in 1985 through 1989
$38,000 in 1990 through 1994
Bonds maturing in 1981 and thereafter may be called in for payment
and redemption at par and accrued interest on March 1, 1980, or on
any interest payment date thereafter prior to maturity.
Bidders are 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 either one-eighth of one per centum (1/8 of i%) or one-tench of one
per centum (1/10 of i%). The difference between the highest rate bid
and the lowest rate bid shall not exceed two per centum (2%), and any
bid specifying supplemental interest coupons will be rejected.
Proposals should be addressed to the Mayor and Board of Aldermen, should
be plainly marked "Proposal for School 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 chec, or exchange,
payable' to the Oxford Municipal Separate School District of Lafayette
County, Mississippi, issued or certified by a bank located in the State
of Mississippi, in the amount of Fifteen Thousand Dollars ($15,000), as
a guarantee that the bidder will carry our 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 District and shall be paid into the traasUry
6f said District.
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 District will pay all expenses incident to the bond issue.
Delivery of the bonds will be made to the purchaser on or before
the expiration of sixty days from and after the date of sale, at a place
to be designated by the purchaser and without cost to the purchaser.
By order of the Mayor and Board of Aldermen of the City
sissippi, this 4th day of November, 1969.
City Clerk
f Oxford, Mis-
r