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Home My Public Portal About1935_10_29SPEC178 A special meeting, duly called by the Mayor and approved by the members of the Town Council of Leesburg in Virginia, was held in its Council Chambers on October 29 th, 1935, there were present::H04M11N=W L. C, $el- lins, W. E. Plaster, Herbert Howard, J. H. Turley, H. F. Newton, Councilmen and E. N. Bradfield, Mayor and Hurst A. Lefferts, Recorder. In accordance with the letter, a copy of which appears in the minutes of the meeting of October 16, 1935, bids were offered on the proposed bond issue. The sealed bids were as follows: 1. Galleher & Company. $78,592.75 2. F. E. Nolting. $79,925.75 3. The Richmond Corporation. $80,125.70 i GAL.LEHER & G,Q. INVESTMENTS va r+. cw ��ereA SUITE 1025. AMERJ.:AN BANK BLDG *ems ONE 3.1321 RICHMOND, VA. October 29, 1935 Mr. Hurst A. Lefferts, Recorder The Town of Leesburg Leesburg, Virginia. My dear i:r. Lefferts: Referring to your letter of October 21, with reference to a proposed issue of $771500 par value 4% Sewer System and Disposal Plant Bonds of the Town of Leesburg, Virginia, which were fully described in the Loudoun Times Mirror on Thursday, October 17, 1935, we hereby agree to pay for all of the $77,500 par value bonds the sum of $78,592.75 net, against de- livery of the bonds on December 1, 1935. If, for any reason, the bonds cannot be delivered on December 1, vie are to pay interest at the rate of 4% on the bonds until they are ready for delivery. However, re will not be obligated to take the bonds later than December 15, 1935• Should the bonds be awarded to us, the bid is subject to the legality of the bonds being approved by Messrs. Thomson, Food and Hoffman, #r2 Pull Street, New York City. Their fee for approving the validity of this issue will be $100.00. If for arty reason they are unable to approve the valid- ity of these bonds, their fee will be one-half of that amount. These fees are quoted by them upon the basis that the town attorney will prepare the proceedings in connection with this issue. You are to have an option to purchase, not 14ter than December 15, 1935, the three last maturities, aggregating ,$15,000, at the average price paid by us per $100, plus accrued interest. All expenses in connection with this issue are to be borne by you, includ- ing the fee for approving the valitidy of the issue. The above bid is subject to immediate acceptance. Respectfully submitted, GALLLHER t A INC. 3r U. Gal eher ..e ice-PresidentPresident FREDERICK E.NOLTING,INC. I N V E S T M E N T S MAIN AND EIGHTH STREETS RICH MONO,VIRGINIA October 28, 1935 Hurst A. Lefferts, Esq., Recorder of the Torn of Leesburg, Leesburg, Va. Dear Sir: In accordance with the teras of your letter of r October 21, 1935, we beg leave to submit the following bid for the � proposed issue of 177,500 Town of Leesburg, Va., bonds, to mature tl,500 Deewber 1, 1937, x.2,000 each year on December 1, 1938 thru 1943, $3,000 each December 1, IIJ44 thru 1947, ;,4,000 each December 1, 1948 thru 1350, 15,.;00 December 1, 1951, thru 1958, total 077,500; namely, at the rate ofA /.10 31.30 Der 01,000 bond and accrued interest to date of delivery, squallin. �%� pts? 5. d accrued interest to date of delivery. ^_''his bid is conditioned upon our procuring the approving opinion of a recognized bond attorney shoring these bonds to be legal- ly issued and binding obligations upon the Town of Leesburg, Va-, sub- ject to an unlimited ad valorem tax for the payment of interest and principal, the cost of which opinion is to be borne by us but the officials of Leesburg, Va., are to furnish our attorneys with necessary legal documents as called for. It is agreeable to us to reserve to the Torn of Leesburg, Ye., the rift to purchase not later then December 15, 1335,not in ex- cess of w15,000 of the latest maturity dates of this issue,without any commission or chargee whatsoever, at the average bid price herewith submitted. Yours very truly, Ashby V. Walton Vice -President sen P RUTHERFOORD FLEET, PRFs—NT CLAUDE R DAVENPORT. Viet —'s J.JOSEPH MAY. VICE P—S S T - THE RICHMOND n CORPORATION INVESTMENTS 726 EAST MAIN STREET. RICHMONDNA. October 7.9, 1955. Mr. Hurst A. Lefferts, Recorder, Town of Leesburg, Leesburg, Virginia. Dear Sir: RIC HriOND 5_TOCIts_ E%CHANGE TELEPHONES J, 3'6686 36889 For $77,500. of coupon bonds to be issued by the TO'Q% OF LE&SBURG, VIRGINIA bearing interest at the rate of 4% per annum, payable semi-annually, which bonds are to be in denominations of :;:1,000. each except as to the ;;1,500. of bonds to be payable Decem- ber 1, 1937, are to be dated December 1, 1935 and payable, without option of prior payment, as follows: - :1,500. to be payable December 1, 1937, - $2,000. to be payable December 1, 1938, and like amount annually up to and including December 1, 1943, - `3,000. to be payable December 1, 1944, and a like amount annually up to and including December 1, 1947, - ;",:4,000. to be payable December 1, 1948, and a like amount annually up to and including December 1, 1950, - u5,000. to be payable December 1, 1951 and a like amount annually up to and including December 1, 1958, - we offer to pay you: - - - - - - - �1- ...,.. 1. a ....�. �.c--&0A4-0; f and accrued interest, which is at the rate of $103.388 and accrued interest per 10100. par value of bonds. It is our understanding that these bonds will constitute valid and legally binding obligations of the Town of Leesburg, Virginia, and that the said Town will have power to levy ad valorem taxes for the payment of said bonds and the interest thereon upon all property within the said Town subject to taxation by the said Town without limitation of rate or amount. 3 Furthermore, this bid is made upon the usual condition that all legal features in connection with this issue of bonds shall be approved, a; 7 at our expense, by attorneys of our selection, and that you will furnish, without cost to us certified copies of such , p papers in connection with the bond issue as may be necessary to enable our attorneys to pass upon the legality of the issue. Should these bonds be awarded to us, we will give the Town of *\ Leesburg, Virginia the right to purchase not later than December 15, 1935 not in excess of ".15,000, of the latest maturing bonds at the same price as that at which we purchase them from the Town. Yours very truly, -J/ BAKER, 1 ATTS & COMPANY, Baltimore, Md. " `'�'^�-� a . E TH M1, QI$ORt,`Tlozi, ond, Ya. By -'x � x. h flay, Vice Pres. & T easvrer. A telegram being delivered while the meeting was in progress and upon motion being made by W. E. plaster, and duly seconded by J. H. Turley, and voted upon favorably by Councilmen J. H. Turley, H. F. Newton, R'. E. Plaster, Herbert Howard, L. C. Rollin scPPV- 004001�, a UesolUtion was adopted that the bid by telegram be received. The telegram hereinbefore referred to was as follows: THE C'OMPANV WILL WILLAPPRECIATE SUGGESTIONS FROM ITS PATRONS CONCERNING ITS SERVICE SEfuRVlICE Fa CTUhSisS LAE\TERN iOs l-ate. E Telegram or Cable- m N ggram unlcss irs rrede- fed character is in- dicared by a suirnble )ENT L UNION r ;ign above r preced- 'ng thu address. tat The filing time ee ebown lathe date line an full -rate telmmme andday lettere. andthe timeof receipt atdeetiaetion ae ebmm on all menvgce. Received at 14.0 C A b3 b EXTRA V' ST LOUIS MO JO1P;J OCT 29 1933 1204 eT Ight Meweae '��f Ight Lm" d—cl Cable .ble Nyht tetter hlp R'dic— NDABD TIME. F1219 O18AG FROM MERCANTILE -COMMERCE BANK AND TRUST COMPANY BOND DEPARTMENT ST. LOUIS, MO. WORDS I � THIS MESSAGE SENT RATES Via Telegraph Co. .. OFFICE pp� )LLARS ;AL OFSCR I - 3S AND S BID -SO SUBJECT kTTORNEY CT IF iCE BANK 10 m A LONG )ENT (0 O� offer di,: not V' re -purchase YG S f �.°�, y as was con— s Nr 9:50 ia. The above telegram has been sent to you today. i. Turley and MERCANTILE -COMMERCE BANK AND TRUST COMPANY BOND DEPARTMENT a, W. E. Plaster, H. F. Newton, Herbert Howard and L. C. Rollins, the Mayor was requested to call by long distance telephone Mr. Isaac A. Long and as- certain whether or not his bid outlined in the foregoing telegram would permit the Town of Leesbu^g in Virginia to re -purchase bonds from $1000. to 815,000 at the ayRA4irtfe price of his offer of X81,413.75. for a bond issue of X'77,500. The Council then assembled was informed that fir. Issac A. Long, rep- resenting the Merchantile Commerce Bank and 'Trust Co., would agree and did agree to the request made by telephon J Anlddfuurtheeragrree o ubm�irther telegram confirming said agree - Tent which telegram is as follows: Ii.;',, TRE COMPANY WILL APPRECIATE SUGGESTIONS FROM ITS PATRONS CONCERNING ITS SERVICE II, t10{ D F SERVICE �-L` V SIGNS ri � DL -s a full -tate or Cable- NM—Nish, Meseless its dei U-�[� ® NLN -Nigh, L<neraracter is in- tC- DkC•bte y a suitable NLT — Cabk Nve or preced- 1.Le"•'ddress. a e ww,rg ,..even Ship Radlopam The Sling time as shown is the data line on full -roto telegrams amdday kttereand the time of receipt atdeetiail a• shown on all meeal is STANDARD TI2aE. Received at 14.W VA b3 b EXTRA ST LOUIS t,JO X01 PIA OCT 29 1935 H A LEFFERTS _ T9JN RECORDER LEESBURG VIR C/O MAYORS OFFICE FOR YOUR SEVENTY SEVEN THOUSAND FIVE HUNDRED COLLARS PAR VALUE NON OPTIONAL FOUR PER CENT SE'll BONDS AS DESTRI- -BED IN LOUDOUN T IMES MIRROR USE T4' I LL PAY YOU A TOTAL OF EIGHTY ONE THOUSAND FOUR HUNDRED THIRTHEN DOLLARS Al�tl j SEVENTY FIVE CENTS AND ACCRUED INTEREST STOP THIS BID SUBJECT TO FAVORABLE ELECTION NOVEWBER FOURTH ALSO SUBJECT APPROVAL LEGALITY BY RECOUNIZED MUNICIPAL BOND ATTORNEY COST OF SAID OPINION TO BE PAID BY US WIRE COLLECT IF VjE SUCCtSSFUL BIDDERS ME RCHAN T I LE COMMERCE BANK AND TRUST CO ST LOUIS MO BY I A LONG THE QUICKEST, SUREST AND SAFEST WAY TO SEND MONEY IS BY TULIZII R P691 DEN T Upon consideration of the telegram, it was found that the offer di" not contain provisions for the Town of Leesburg in Virginia to re -purchase bonds from .=1000. to "`15,000. of the latest maturity date as was con— templated by the Council of the Town of Leesburg in Virginia. Un_on motion made by W. E. Plaster and duly seconded by J. H. Turley and voted favorably upon by Councilmen J. H. Turley, W- E. Plaster, H. F. Newton, Herbert Howard and L. C. Rollins, the Mayor was requested to call by long distance telephone Mr. Isaac A. Long and as- certain as -#a whether or not his bid outlined in the foregoing telegram would permit the Town of Leesburg in Virginia to re -purchase bonds from 11000. to $15,000 at the a l rice of his offer of 981,413.75• for a bond issue of ?77,500. The Council then assembled was informed that Ill lssac A. Long, rep- resenting the Merchantile Commerce Bank and 'Trust CO-, would ^gree and did agree to the request made by telephone Z4'< �Ja�'-•A, _'l w. .' Qi a(/-1 confirming said agree - And did further agree to submit a farther telegram -gent which telegram is as follows: THE COMPANY WILL APPRECIATE SUGGESTIONS FROM ITS PATRONS CONCERNING ITS SERVICE WE S TE RN CLASS OF SERV ICE S IONS DL - Ca9 Lcttn This is a full -rare NM—h Telegram or Cable-� Menaee gram unless its de- N NL—N--igbt ktt� ferredchar=ac is in- (; LC- dicated " a suitable C�bte above or preced- t'ii-T - C1b4 Nlcbt tom, sign ing the address. n, e. wHira WCOMB C. RLTON �, e. wic�evea AIM The filing time as -bow. in the date line on`full-rate telegrams and daY Intten,�and the time of receipt ut destination ae ebown oa au measnm ie Received at 2W WA 44 NL 2 EXTRA STLOUIS MO OCT 29 1935 E NEVILLE BRADFIELD MAY®® LEESBURG VIR CONFIRMING TELEPHONE CONVERSATION AND SUPPLEMENTING WIRE OF EVEN DATE WE AGREE TO SELL YOU ALL OR ANY PART FIFTEEN THOUSAND LONGEST MATURITY LEESBURG SEWER FOURS AT ONE THOUSAND FIFTY DOLLARS AND FIFTY CENTS PER ONE THOUSAND DOLLARS PAR VALUE PLUS ACCRUED INTEREST MERCANTILE COMMERCE BANK AND TRUST CO A LONG VICE PRESIDENT THE QUICKEST, SUREST AND SAFEST WAY ',0 ShND MONEY IS BY TELEGRAPH OR CABLE And thereupon by Resolution offered by W. E. Plaster and duly seconded by L. Ce Rollins and voted favorably upon by W. E. Plaster, L. C. Rol- lins, J. H. Turley, Herbert Hmmrd, H. r'. Neeton , the Mayor of the Town of Leesburg in Virginia, as authori-ed to write the following letter of acceptance for the offer on the pro- posed bond issue: JOHN G. LONSOALE CHAIRMAN OF THE BOARD CAPITAL $ 10.000.000 c. r. . —P 7 GEORGE W. WILSON CHAIR MAN.EXECUTIVE COMMITTEE MERCANTILE- COMMERCE BANK AND TRUST COMPANY LOCUST- EIG HTH -ST. CHARLES �. A. LONG, SAINT LOUIS VICE.PRESIDENT November lst, 1935. Mr. E. Neville Bradfield, Mayor, Leesburg, Virginia. Dear Neville: W. L.HEMINGWAV PRE Sip ENi �a C SURPLUS $ 2,000,000 I have your letter of the 31st confirming sale to us of $77,500 par value Town of Leesburg, Sewer 4ts maturing December 1, 1937 through 1958, subject to the conditions outlined by you, which is in accordance with our understanding. If the bonds are favorably voted on November 4th, we will immediately prepare the formal contract and submit :same to you for approval. We expect to secure the legal opinion of Hon. B. H. Charles, Merchants Laclede Building, St. Louis, Missouri, who is a nationally known municipal bond attorney and will take the bonds up promptly after receiving his opinion. It is our under- standing that .you will have the bonds printed and prepared. I shall appreciate your advising me the result of the election promptly. Very trulyyou , )�Lce-Press ^nt. MG S, .. Reco ' - ' On motion uoIy nwuo and 0000uoou, there being no further uunuoeuo, the meeting was adjourned. Mayur ' '—_'W