Board of Visitors minutes October 2, 1962 | ||
The Board of Visitors of the University of Virginia met on this date for a called meeting at
12:00 Noon in the Office of the State Treasurer, Room 101, Finance Building, Richmond, Virginia, with
the following present: Visitors Blanton, Camp, Faulconer, Fenwick, Johnson, Kendig, Lantor, Lewis,
Martin, Montague, and Walker. Absent: Rector Albert V. Bryan; President Edgar F. Shannon, Jr.; and
Visitors Berkeley, Hartfield, Pollock, Rogers, and Wilkerson.
In the absence of the Rector, the Board elected Mr. Blanton to preside at this called meeting.
RESOLUTION AWARDING STUDENT APARTMENT BUILDINGS REVENUE BONDS
Mr. Johnson made a motion, seconded by Mr. Faulconer, that the following resolution be adopted:
A RESOLUTION AWARDING $1,200,000 THE
RECTOR AND VISITORS OF THE UNIVERSITY
OF VIRGINIA STUDENT APARTMENT BUILDINGS
REVENUE BONDS (SERIES 1962)
BE IT RESOLVED by the Rector and Visitors of the University of Virginia
Section 1. Pursuant to the resolution of the Rector and Visitors of the University of Virginia
duly adopted on September 29, 1962, the State Treasurer of the State of Virginia solicited bids to
be received for and on behalf of the Board at the office of the State Treasurer in the City of
Richmond, Virginia, until 12 o'clock Noon, Eastern Standard Time, October 2, 1962, for the purchase
of $1,200,000 The Rector and Visitors of the University of Virginia Student Apartment Buildings
Revenue Bonds (Series 1962), dated October 1, 1962, maturing annually, October 1, in the following
years and in the following amounts, respectively
Year of Maturity |
Principal Amount |
1964 | $30,000 |
1965 | 35,000 |
1966 | 35,000 |
1967 | 35,000 |
1968 | 40,000 |
1969 | 40,000 |
1970 | 40,000 |
1971 | 40,000 |
1972 | 45,000 |
1973 | 45,000 |
1974 | 45,000 |
1975 | 50,000 |
1976 | $50,000 |
1977 | 50,000 |
1978 | 55,000 |
1979 | 55,000 |
1980 | 55,000 |
1981 | 60,000 |
1982 | 60,000 |
1983 | 65,000 |
1984 | 65,000 |
1985 | 65,000 |
1986 | 70,000 |
1987 | 70,000 |
at which hour bidding was closed and the following bids were found to have been filed and to accord
in all respects to the terms of said resolution, each bid offering to pay accrued interest and
enclosing a certified or bank cashier's or treasurer's check for $24,000 payable to the order of
the State Treasurer of the State of Virginia
(1) Bid of F. W. Craigie & Co. and Associates offering to pay $1,204,260 and accrued interest
for said bonds bearing interest at the rate of 3.30 per centum per annum
(2) Bid of Merrill Lynch, Pierce, Fenner & Smith, Inc. and Associates offering to pay
$1,200,836.40 and accrued interest for said bonds bearing interest at the rate of 3.30 per centum
per annum
(3) Bid of J. C. Wheat & Co. and Associates offering to pay $1,207,223 and accrued interest
for said bonds bearing interest at the rate of 3-3/8 per centum per annum
Section 2. The bid offering to purchase the bonds at the highest price for the lowest
interest rate bid upon the bonds was the bid of F. W. Craigie & Co. and Associates offering to pay
$1,204,260 and accrued interest for said bonds bearing interest at the rate of 3.30% per annum
Section 3. Said bid of F. W. Craigie & Co. and Associates is hereby accepted and said
$1,200,000 The Rector and Visitors of the University of Virginia Student Apartment Buildings Revenue
Bonds (Series 1962) are hereby awarded to F. W. Craigie & Co. and Associates at the price offered
for said bonds bearing interest at the rate of 3.30 per centum per annum. This award is subject to
the consent and approval of the Governor of the State of Virginia and the Treasury Board of the
State of Virginia. Delivery of said bonds is to be made on or about November 5, 1962 in the office
of the State Treasurer in the City of Richmond, Virginia
Section 4. The checks of unsuccessful bidders shall be returned immediately
Section 5. All steps necessary to carry this resolution into effect shall be taken by the
proper officers of the Rector and Visitors of the University of Virginia and of the University of
Virginia
Section 6. The Secretary to the Board is hereby authorized and directed to file a certified
copy of this resolution with the Governor of the State of Virginia and the Treasury Board of the
State of Virginia
A vote being taken, said resolution was adopted by the following recorded vote. Ayes:
Thomas H. Blanton, William M. Camp, Hunter Faulconer, Charles R. Fenwick, Walkley E. Johnson,
Edwin L. Kendig, Jr., Raynell Goodman Lantor, Lawrence Lewis, Jr., Walter B. Martin, E. Sclater
Montague, and Lewis M. Walker. Nays: None
On motion the meeting was then adjourned at 12:15 p.m.
Rector
Secretary
Board of Visitors minutes October 2, 1962 | ||