 | Board of Visitors minutes December 14, 1963 |  |
RESOLUTION PROVIDING FOR THE SALE OF FIELD HOUSE AND GYMNASIUM REVENUE BONDS
Mr. Blanton made a motion, seconded by Mr. Montague, that the following resolution be adopted
A RESOLUTION PROVIDING FOR THE SALE OF
$1,200,000 THE RECTOR AND VISITORS OF
THE UNIVERSITY OF VIRGINIA FIELD HOUSE
AND GYMNASIUM REVENUE BONDS (SERIES 1964)
WHEREAS, The Rector and Visitors of the University of Virginia (hereinafter sometimes called
the "Board") has this day duly adopted a resolution authorizing the issuance of $1,200,000 The Rector
and Visitors of the University of Virginia Field House and Gymnasium Revenue Bonds (Series 1964), and
WHEREAS, the Board deems it advisable to sell said bonds at this time, now, therefore,
BE IT RESOLVED by the Rector and Visitors of the University of Virginia
Section 1. The State Treasurer of the State of Virginia is hereby authorized and directed to
solicit bids from various financial and investment banking institutions in the State of Virginia, and
from such other institutions which may express an interest in bidding for the bonds, for the purchase
of the $1,200,000 The Rector and Visitors of the University of Virginia Field House and Gymnasium
Revenue Bonds (Series 1964). Sealed bids are 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, January 23, 1964, at which time and place the bids received will be publicly opened and read on
behalf of the Board.
No bid for less than all of the bonds or for less than par and accrued interest will be entertained.
Bidders are requested to name the interest rate, not exceeding 6% per annum, in a multiple of 1/8 or
1/20 of 1%. The bonds will be awarded to the bidder offering to purchase the bonds at the lowest interest
cost to The Rector and Visitors of the University of Virginia, such cost to be determined by deducting
the total amount of any premium bid from the aggregate amount of interest upon all of the bonds from
their date until their respective maturities.
Each bid must be submitted on a form to be furnished by the State Treasurer, must be enclosed in
a sealed envelope marked "Bid for $1,200,000 The Rector and Visitors of the University of Virginia
Field House and Gymnasium Revenue Bonds (Series 1964)", and should be addressed to the "Rector and
Visitors of the University of Virginia, c/o State Treasurer of the State of Virginia, Room 101, Finance
Building, Richmond, Virginia". Each bid must be accompanied by a certified or bank cashier's or
treasurer's check payable to the order of the State Treasurer of the State of Virginia in an amount
equal to $24,000. Award or rejection of bids will be made by the Board on the date above stated for
the receipt of bids, and the checks of unsuccessful bidders will be returned immediately. The award
of the bonds will be subject to the consent and approval of the Governor of the State of Virginia
and the Treasury Board of the State of Virginia. The check of the successful bidder will be held
uncashed as security for the performance of his bid, but in the event the successful bidder shall fail
to comply with the terms of his bid, the check may then be cashed and the proceeds retained as and
for full liquidated damages. The bonds will be delivered on or about February 20, 1964, in the office
of the State Treasurer in the City of Richmond, Virginia.
The unqualified approving opinion of Mitchell, Pershing, Shetterly & Mitchell, New York City, will
be furnished without cost to the purchasers. There will also be furnished the usual closing papers,
including a certificate, dated as of the day of the delivery of the bonds, stating that there is no
litigation pending or, to the knowledge of the signers of such certificate, threatened affecting the
validity of the bonds
Further information relating to the above bonds will be furnished upon application to the State
Treasurer
The right to reject any or all bids is reserved by the Board
Section 2. The form referred to in Section 1 above and on which all bids for the purchase of
the $1,200,000 The Rector and Visitors of the University of Virginia Field House and Gymnasium Revenue
Bonds (Series 1964) are required to be made shall be substantially as follows
THE RECTOR AND VISITORS OF THE UNIVERSITY OF VIRGINIA FIELD HOUSE AND
GYMNASIUM REVENUE BONDS (SERIES 1964)
____________________, 1964
c/o State Treasurer of the State of Virginia
Subject to the provisions and in accordance with the terms of the resolutions duly adopted by
the Rector and Visitors of the University of Virginia on December 14, 1963, which resolutions are
hereby made a part of this bid, we offer to pay _________________________ Dollars
($ _______________), plus accrued interest from February 1, 1964 to the date of delivery, for all,
but no part less than all, of $1,200,000 The Rector and Visitors of the University of Virginia Field
House and Gymnasium Revenue Bonds (Series 1964), dated as of February 1, 1964, bearing interest at the
rate of _______________% per annum
We enclose herewith 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, which check is to be applied in accordance
with the resolution providing for the sale of the bonds duly adopted by the Rector and Visitors of
the University of Virginia on December 14, 1963.
____________________
____________________
____________________
(No addition or alteration, except as provided above, is to be made to this bid.)
Section 3. The officers and agents of the Rector and Visitors of the University of Virginia
and of the University of Virginia are hereby authorized and directed to do all the acts and things
required of them by the bonds and by this resolution, for the full, punctual and complete performance
of all the terms, covenants, provisions and agreements contained in the bonds and in this resolution
Section 4. The Secretary of the Board is hereby authorized and directed to file a certified
copy of this resolution with the Governor and the Treasury Board
A vote being taken, said resolution was adopted by the following recorded vote. Ayes: Albert
V. Bryan, Thomas H. Blanton, William M. Camp, Hunter Faulconer, William A. Hobbs, Walkley E. Johnson,
Edwin L. Kendig, Jr., Mrs. Nathan Lantor, Lawrence Lewis, Jr., Walter B. Martin, E. Sclater Montague,
Frank W. Rogers, Lewis M. Walker, Jr., and Langbourne M. Williams. Nays: None.
| Board of Visitors minutes December 14, 1963 | |