Minutes 05/12/1953 - Laserfiche WebLink

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00 TUESDAY MAT 12, .1953 Council of the City of Martirnville, Virginia.; and tre representatives of the said City Council of the City of Martinsville, Virginia, vnll be present for the pur}Jose of acting upon the recornr:lendation of the state COr:JJnission on Local Debt 2.S to the best bid; "md the City Council will cause such bonds to be prepared, executed, and cl.elivercd to the sllcces~~ful bidder. Th.e r:V;ht :1.S reserved to rej ect any and all bids. T'ne bonds will be delivered at the princ :Lpal oftice of the National City Bank of New York, New York, N. Y., or The First National Bade of M2rtinsville, Martinsvllle, Virginia, or the Piecnont Trust Bank of Martinsville, Martinsville, VirGinia, on July 1, }()53 or as soon thereafter as possible. The purchaser will be furr.ished, without cost, with the usu2.1 closing papers, the opinion of Messrs. Rec:d, Boyt, Taylor?' Washburn, stating that the bonds constitute val:i.d 2nd leg2.11y binding obligatiom of the City of Hartinsville, Virgini2., and that the City is au thorized and required by law to levy, wi thin such limitations as are prescribed by law, lnon all ~Jroperty wittin the City subject to taxc1tion by the City, such ad valorem taxes as may be necessary to pay the bonGS and the .interest thereon. In addition, a certificate win be furnished that tl18re is no litigation pend~_ng affecting the validity of the bonds. Bidders submitting bids Bust use the bid forms which may be obtained fron the State Commission on Local Debt. Each propoE3al should be enclosed in a scaled envelope marked "PlWPCGAL FOE. CITY U"' MAETIIJSVILLE BONIBII, and should be directed to the "City Council, City of Martinsville, care State Commission on Local Debt, Room 222 Finance Building, Capitol Square, Richr::ond, Virginia. II Further inforT;'lation will be furnished upon appliG3tion to tl:e un(lersigned. All bids 'will be received by the Commission for and on behalf of the City of M2..rtinsville, Virginia. STATE COWQSSIOH ON LOCAL DEBT J. Gordon Bennett Secretary may be of the (5) Said notice of sale shall be published in such manner as deemed advisable by the Clerk of the Council and the Secretary State Cor;urr': sedon on Local Debt.