HomeMy Public PortalAbout1938_11_17SPEC 1. 80
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November 17 , 1938
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At a •spedial meeting of the Mayor -and Town Council of
the Town of Leesburg ; innVirginia , held in the Council Chamber on
Thursday , November 17-, 1938 at 11 :00 A. M. there were present ,
Lucas D. Phillips , Mayor ; Louis T. Titus , Recorder , James E.
Adrain, Roy M. •Flippo ; John T. Hourihane , Louis C. Rollins ; John
D. Taylor and Joseph H. Turley , Councilmen:
THE Mayor Stated that the purpose of the meeting was to II
consider bids for the printing of bonds heretofore authorized by
a special election held on August 16 , 1938 , and also to consider
and pass a Resolution authorizing the printing of the bonds: •
The Recorder read the proposed Resolution and upon
motion of Councilman Turley , seconded by Councilman Adrain'and
unanimously carried by the -d'ollowing recorded vote ; FOR - James E.
Adrain , Roy M:; F1fppo , John T. Hourihane , Louis C. Rollins , John
D. Taylor and Joseph H. Turley ; AGAINST - NONE; the following
Resolution was passed ;
WHEREAS , a special election was held in the Town of •
Leesburg, in Virginia , on the 16th day of August , 1938 , for
the purpose of determining whether the voters of the Town
'favored issuing bonds for the purpose of borrowing $82 ; 00:00
to assist in the construction of a sewerage Syatem and •
Disposal Plant for the said town; and
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WHEREAS , the Town advertised for and received bids on - ' '
the 8th day of November , 1938, and accepted the bid of
Scott , Horner and Mason , Inc. , for $82 ,639. 79 with a coupon
' rate of 2 3/4 per cent ; •and
WHEREAS , said advertisement for the sale of the said
bonds recites , among other things , that "Bonds are to be in
-the demoninations of $1 ,000:00 each, except Bond No. 1 , which
shall be of the demonination of $500.00, principal and
interest .to be payable at the office .of the Auditor-Treasurer ,
Town of Leesburg , in Virginia. Interest to be payable semi-
annually on the 1st day of June and the 1st day of December. "
And, WHEREAS, the Town has called for bids for printing
said bonds and the following bids have been received : The
Paul Company , Baltimore , Maryland , $128,00 ; J. P. Bell Company ,
' Inc. , Lynchburg , Virginia , $120.00 ; Security Bank Note Company ,
Philadelphia , Pennsylvania , !97.O0; . Virginia Stationery
Company , Inc. , Richmond , Virginia , $90.00; and
WHEREAS , the Council deems it most advantageous for the
Town to accept the bid of Virginia Stationery Company, Inc. :
NOW, THEREFORE, BE IT RESOLVED , by the Council of the
Town of Leesburg , in Virginia , • that Stilson H. Hall , Town
• Attorney , be and he is hereby authorized , instructed and
directed to employ the Virginia Stationery Company , Inc . ,
'Richmond , Virginia , for the sum of $90.00 to print 82 bonds
in the demononination of $1 ,000.00 each and one bond for
$500.00 with the necessary -coupons on said bonds to provide 11for the payment of the principal and interest as the same
shall mature in accordance with the plan heretofore approved
by Ordinances and Resolutions heretofore passed by the Council.
BE IT FURTHER RESOLVED , by the Council of the Town, of
Leesburg , in Virginia , that the following be and the same is
hereby approved as the proper form of bonds to be issued , 82
of which said bonds shall be in the sum of $1 ,000.00 each and
one for $500.00 and 'all of which shall be made payable and
mature as set out in a schedule in an Ordinance passed by
the Council on the 19th day of July , 1938 :
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181
NUMBER ' UNITED STATES OF AMERICA DOLLARS
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STATE OF VIRGINIA - - COUNTY OF LOUDOUN
TOWN OF LEESBURG
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KNOW ALL MEN BY THESE PRESENTS : That the Town of Leesburg ,
in Loudoun County , Virginia , acknowledges itself to owe , and
for value received hereby promises to pay to bearer the sum of
ONE THOUSAND DOLLARS
together with interest on said sum from the date hereof until
paid at the rate of two and three-quarters per cent. per •
annum, payable semi-annually on the 1st day of June and the
1st day of December of each year , upon presentation and
surrender of interest coupons hereto attached as they severally
become due.aAny or all of the said 83 bonds which shall not
become due and payable within five years from the date hereof
may be called at par and paid at any interest payment date
after 5 years from the date of their issuance.
• Both principal and interest of this bond are hereby made
payable, at the office of the Auditor-Treasurer of the said Town '
of Leesburg , -in Virginia , for the prompt payment of this bond ;
c. both prihcipal and interest , the full faith, credit and
resources of said town are hereby irrevocably pledged.
This bond maybe registered as to principal only and is
IIone of 83 bonds issued by the Town of Leesburg , in Virginia ,
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for the purpose of providing funds to construct a Sewerage
Sy$tem and Treatment Disposal Plant for the said town of
Leesburg , in Virginia.
This is a General Obligation Bond and is issued by the
Town of Leesburg, in Virginia , pursuant to authority vested
in the Town by Chapter 122 of the 1936 Code of Virginia , and
also pursuant to the provisions of .all necessary and proper
Ordinances and Resolutions passed by the Council of said Town
and an election held pursuant to one of said Ordinances and
Section 3083 of the said Code of Virginia and other provisions
of Chapter 122 .
And it is hereby certified , recited and warranted that
all acts , conditions and things required to be done , precedent
to and in the issuance of this bond have been properly done ,
happened and been performed in the regular and due time and
form as required by the laws and constitution of the State of
Virginia ; that the total indebtedness of said town, including
this bond , does not exceed any statutory or constitutional
limitation and that provision has been made for the levy of
a tax upon all the taxable property in said town for the
purpose of paying the interest hereon and the principal hereof
at maturity.
IN TESTIMONY WHEREOF , the Town of Leesburg , in Virginia ,
by and through its Town Council , has caused this bond to be
signed by its Mayor and countersigned by its Auditor-Treasurer
and attested and its Qorporate seal affixed thereon by the
Recorder and the Coupons hereto annexed to be executed with
the fac simile printed signatures of said Mayor and Recorder ,
this 1st day of December , 1938 .
Mayor
Countersigned :
Teste
Auditor-Treasurer
Recorder •
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BE IT FURTHER RESOLVED , by the said Council of the Town
of "Leesburg, in Virginia , that the following be and the same
is hereby approved as the form for coupons to be placed_ on
said 82 bonds for $1 ,000.00 each in accordance with the said
plan for payment thereof in the said Ordinance• of July 19 ,
1938 :
7X0
06"0,./ No. On 1 , 19 $13:75
TEE TOWN OF LEESBURG, IN VIRGINIA , will pay to bearer at the
Office of the Auditor-Treasurer of the Town of Leesburg , in
Virginia , the sum of Thirteen Dollars and Seventy-Five Cents ,
same being the semi-annual interest on Sewerage Sygtem and
Treatment Disposal Plant Bond. -On payment of said bond with
interest to date of payment all coupons subsequent to said, :
date shall become null and vomd. This is attached to and forms
a part of said bond. Given under our hands this the 1st day
of December, 1938.
)4 _ LOUIS T. TITUS • LUCAS D. PHILLIPS
Recorder Mayor
And the same form of coupon shall be prepared for the •
$500.00 bond to be issued in accordance with the plan
provided in the aforesaid Ordinance of July 19 , 1938 , except
one of the inperest payments thereon shall be for $6.87 and
the ither for $6.88. •
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BE IT FURTHER RESOLVED , by the said Council- of the Town
of Leesburg , in .Virginia , that Lueas D. Phillips , Mayor , and
Roscoe B. Rhoads , Auditor-Treasurer , be and they are hereby
authorized , instructed and directed to sign and countersign
each of the said 83 bonds and Louis T . Titus , Recorder , is
.authorized , instructed and directed to attest and place the II
seal of the Town on each of the said 83 bonds and each of the
coupons on said bonds shall be authenticated by the fac simile
signatures of Lucas D. Phillips , Mayor , and Louis T. Titus ,
Recorder.
BE IT FURTHER RESOLVED, by the said Council of the Town
of Leesburg , in Virginia , that all of said bonds shall '
comply with the stipulations , terms and conditions set. out
in an Ordinance passed by the Council on the 19th day of
July , 1938 , and the coupons thereon shall conform to the
2 a per cent interest rate in accordance with the bid
submitted by Scott , Horner and Mason , Inc. , and accepted by
the Town .
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There being no further business , on motion duly made ,
seconded and carried , - the council adjourned.
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APPROVED : • RGO:a
D '.
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ott-&-a4_. . Ott
.MAYOR
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