R-50-034
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RESOLUTION AWARDING $161,000. REFUNDING BONDS.
ISSUE OF 1950, DATED JULY 1, 1950.
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WHEREAS, pursuant to notice of sale heretofore duly published
in The Bond Buyer, New York City, and in The Clermont Press for the
sale of $161,000. Refunding Bonds, Issue of 1950, of the City of
Clermont, dated July I, 1950, the following sealed proposals have been
received:
Name of Bidder
Pride Bid
B. J. Van Ingen & Co. Inc. $159,551.
WHEREAS, the proposal of B. J. Van Ingen & Co. Inc. of $159,551.
referred to above is the highest and most 'advantageous bid for said bonds
and in all other respects complies with said notice of sale; now, there-
fore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CLERMONT.
FLORIDA:
Section 1. That the proposal of B. J. Van Ingen & Co. Inc. of
$159,551. referred to in the preambles hereof be and the same is hereby
accepted and the following described bonds of the City of Clermont be and
they are hereby awarded and sold to the said purchaser at the price and
in accordance with the proposal of said purchaser referred to above, a
true copy of said proposal being attached hereto and made a part hereof:
$161,000. Refunding Bonds, Issue of 1950, of the City
of Clermont, Florida, dated July I, 1950, $1,000 each,
bearing interest at the rate of 3% per annum, payable
semi-annually on January 1 and July 1 of each year, the
bonds of said issue maturing in the years 1967 to 1969,
inclusive, being redeemable prior to maturity as pro-
vided therein, said bonds being numbered and maturing
on July 1 of each year as follows:
Nos. Amount Year
-
1 - 15 $15,000 1952
17 - 30 14,000 1953
31 - 45 15,000 1954
46 - 61 16,000 1955
83 - 94 12,000 1957
100 - III 12,000 1958
:.. 145 - 147 3,000 1960
160 - 166 7,000 1961
169 - 185 17,000 1962
286 - 305 20,000 1968
306 - 335 30,000 1969
Section 2. That the proper officers of the City be and they are
hereby authorized and directed to deliver said bonds when prepared and
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executed to the said purchaser upon payment therefor without
further authority from this Council.
Section 3. That the good faith checks of all unsuccessful
bidders shall be returned forthwith by the City Clerk.
Section 4. This resolution shall take effect immediately.
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PASSED by the City Council of the City of Clermont at
its adjourned regular meeting held on December 19, 1950.
?ì1A~A'fJ ~~
City Clerk
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By . E. C. Hodg~~~
BY: B. J. VÆf INGEN & CO. Inc.
B. J. Vili~ INGEN & CO. Inc.
FIRST SECURITIES COMPANY OF KANSAS, INC.
Respectfully submitted,
We will accept delivery as per the Notice of Sale at the Irving Trust
Company of New York on January 2, 1951. The legal opinion of Caldwell,
Marshall, Trimble & Mïtchell is to be furnished with the bonds.
Attached hereto is Cashier's Check Number 44230, drawn on the Pan American
Bank of 1hami in the sum of $3,220.00, as good faith check as called for
in the Notice of Sale. If we are not the successful bidders, please
return the check to us immediately.
Our guaranteed bid under our refunding contract of 99 and accrued interest
for one hundred fifty bonds and par ~nd accrued interest for any bonds
above the one hundred fifty is covered by this bid.
As per the Notice of Sale published in the Bond Buyer, a publication of
the City of New York, we respectfully submit the following bid for the
$161,000 City of Clermont, Florida, Refunding Bonds, Issue of 1950,
dated July 1, 1950 and due serially 1952 to 1969, more completely
described in the Notice of Sale, copy of which is attached hereto and
made a part hereof, we will pay the sum of ONE HUNDRED FIFTY-NINE
THOUSAND FIVE HUNDRED FIFTY-ONE DOLLABS ($159,551.00), and accrued
interest to the date of delivery.
Gentlemen:
City Council
Ci ty of Clermont
Clermont, Florida
.December 18, 1950
NEW YORK
CHICAGO
. D U' PO NT B U I L DIN G
MIAMI 32, FLORIDA
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R.OE'!.ERT H. COOK
VICE PRESIDENT
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City and County of New York,
,
RoSE SPERANZA, being duly sworn, says that she is
the Advertising Clerk of THE BOND BUYER, a daily and
w~kly newspaper printed and published at 67 Pearl
Street in the City of New York, County of N'f>w York,
State of New York; and the notice, of WhICh the an-
nexed is a printed copy, was regularly published in
said THE BOND BuYER on
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Ad1J6rtiBing Clerk
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Subscribed and
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Certifiea te filed,
New York County (No. 24-8727700)
My commission expires March 30, 1952
$161,000
CIJT~ OF CLERMON·T
FLORIDA
Refunding Bonds
The: City Council of the City of Clermont, Florida, will receive sealed
¡Jl'oposalR until 8 :00 o'clock P. M" on the
1 9 t h DAY 0 F D E C E M B E R, 1 9 5 0,
at the City Hall in said City for the purchase of the following' described
bonds of the said City:
$161,000 Refunding Bonds, Issue of 1950, dated July 1st, 1950, of $1,000
each, maturing July 1st of each year as follows:
Year Amount
1952 $t5,000
1953 J 4,000
1954 J 5,000
1935 16,000
1937 J2,000
1958 12,000
1960 3,000
laG1 7,000
1%2 17,000
19G8 20,000
1969 30,000
Number
1- 15
17- 30
31- 45
46- 61
83- 94
100-111
145-147
160-166
169-185
286-305
306-335
Said bOí1ds will all bear interest at the rate of 3% per annum payable
semi-annufllly on January 1st anà July 1st of each year. The bonds matur-
ing in the years 1968-1969, inclusive, are redeemable prior to maturity at
the prices and under the terms provided in the resolution authorizing said
bonds, copy of which resolution will be furnished on request.
The bonds will be awarded to the bidder offering to pay the highest
price for sajd bonds and the successful bidder will be required to take de-
livery of and pay for said bonds at the principal office of the Irving Trust
Co., in New York City, on January 2nd, 1951. Each proposal must be accom-
panied by a certified or cashier's or treasurer's check drawn on an incorpo-
rateù bank or trust company for 2% of the par value of said bonds as a
good faJth deposit fer the performance of said bid. No interest will be
i allowed on the good faith check of the successful bidders.
Said City Council reserves the right to reject any or all biùs or to
adjourn said sale.
The legal opinion of Caldwell, Marshall, Trimble & Mitchell will be
furni"hed the ~uccessful bidder.
MRS. M. H. BARNES.
City Clerk.
errors in transmission,
tr"+ ~ proposal form is
, telegraphic bid.
.1 _ 'Y ~s ma be.(' T - II ,., l.rt
of sâid notes, ~ _~".;)-
posals will be rE. 'J'! eaZ., l-'art
of said notes for WI. separate in-
terest rate is bid. S<t.~ notes wiJI be
awarded at the lowest net interest cost
to the Authority under such bid or
bids, and in computing such interest
cost the Authority will take into con·
sideration any premium which any
bidder offers to pay. No bid for Jess
than the principal amount of $100,00C
and less than par and accrued interest
(which interest shall be computed anè
paid on a 360 day year basis) will be
I!nterta.ined, and the Authority re-
serves the right to award to any bid-
der all or any part of the notes which
such bidder offers to purchase in his
proposal, upon the basis of such pro-
posal. If only a part of the notes
bid for in a proposal are awarded by
the Authority, any premium offered in
such proposal shall be pro-rated. The
bidder to whom only part of the notes
are awarded shall thereafter desig-
nate the denominations for the notes
as awarded. The further right is re-
served to reject any or all bids.
The Authority will furnish an opm-
ion by Messrs. Sullivan, Donovan,
Heenehan & Hanrahan of the City of
New York, New York, approving the
validity of the notes and of the guar-
antee of the payment of the principal
of and interest on said Notes by the
Commonwealth of Massachusetts. The
expense of such opinion will be borne
by the Authority.
In the event that, prior to the de,
livery of any of the notes to the sue
~essful bidder therefor, the income re-
'eived by private holders from obliga-
tinns of the same type and charactel
.haJ! he taxable by the terms of any
P'ederal income tax law hereafter en-
acted. the successful bidder may, at
'Jis e¡Petion, be relieved of his obliga,
tiono under the contract :0 purchase
such notes.
Frank B. Coughlin
Chairman, Norwood Housing
Authority
and provided
sent confirm_
I
he principal
_ notes by the
~sachusetts. TL
on will be borne
- - -~~ -~f the
of and intf'
Commonwe .\
expense of . Jp'
by the Authority.
In the event that, prior to the de-
livery of any of the notes to the suc-
cessful bidder therefor, the income re-
cpived by private holders from obliga-
tlvns of the same type and character
shall be taxable by the terms of any
Federal income tax law hereafter "n-
acted, the successful bidder may, at
his election, be relieved of his obliga-
tions under the contract to purcha·"
such notes.
Francis H. iVlcGurn
Chairman, Lowell Housing Autho -ity
$815.000
$1,400,000
....
Authority
Norwood, Massachusetts
December 15, 195,}
Sealed proposals will be received by
the Norwood Housing Authority
(hereinafter called the "Authority")
at the Offices of the State Housing
Board, 18 Tremont Street, Boston,
Massachusetts, Room 803, until cleven
o'clock A. M. (E. S, T.) on December
20, 1950, for the purchase of note"
(Third Series) in the aggregate prin-
cipal amount of Eight Hundred F'i£-
t8en Thousand Dollars ($815,000). The
words "Temporary Loan Notes, Nor-
,vood Housing Authority," should a p-
pear on the envelope containing' tn.
proposals.
The notes will be dated January :¿
1951, and will be payable to beare}· 01ì
July 31, 1951. The proceeds of w·~}
notes are to be used to pay expen5es
incurred or to be incurred in the.
development of a state-aided ho"s;n
project, Norwood 200-1, for vete'·anc'
in the Town of Xonvood, l\1assachu-
setts,
For prompt payment of the princi-
pal of and interest on said notes, the
full faith and credit of the Authority
will be pledged and the payment of
the principal of and interest on the
notes will be unconditionally guaran-
teed by the Commonwealth of Mas-
sachusetts.
Said notes will bear at
rate per annum fixer!
the
nr(\no~~ 1
Norwood Housing
N utes
in terest
n thp
,
City of Clermont
#1 WESTGATE PLAZA
CLERMONT, F,LORIDA
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8S follows:
so,
to Sept.
is
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classification
Oct.
for the year
on your
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amount
or occupation
The
The City License on your business
is due on or before October 1st.
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Total
City Clerk
w. Carroll,
truly yours
Dolores
Very