09-16-75 MinutesPresent:
Mr. Irvin G. Horner, Chairman
Mr. Leo Myers, Vice-Chairman
Mr. J. Ruffin Apperson
Mr. Ef Merlin O'Neill
Mr. M. W. Burnett, Co. Admin.
Absent:
Mr. A. J. Krepela
VIRGINIA: At an adjourned meeting of the
Board of Supervisors of Chesterfield
County, held on September 16, 1975
The Board having met at 11:00 a.m. in the Finance Building, Capital Square to
witness the opening of sealed bids for the purchase of $19,450,000 in County
Bonds and the Board having returned to the Courthouse, the Chairman calls the
meeting to order at 1:30 p.m.
On motion of Mr. Apperson, seconded by Mr. Myers, the following resolution is
adopted:
At an adjourned meeting of the Board of Supervisors of Chesterfield
County, Virginia, held at the County Courthouse at 1:30 p.m. on September 16,
1975, said meeting having been adjourned from a regular meeting held on
September 10, 1975.
Present
Absent
Irvin G. Hornet
J. Ruffin Apperson
Leo Myers
~. Merlin O'Neill
A. J. Krepela
The following resolution was adopted by a majority of all members of the
Board of Supervisors by a roll call vote, the ayes and nays being recorded in
the minutes of the meeting as follows:
Member
Vote
Irvin G. Hornet Aye
J. Ruffin Apperson Aye
Leo Myers Aye
Whereas, sealed bids for the purchase of $17,700,000 School Bonds and
$1,750,000 Library Bonds (collectively the "Bonds") of Chesterfield County,
Virginia (the "County"), were called for to be received for and on behalf of
the Board of Supervisors of the County by the State Commission on Local Debt
of the Commonwealth of Virginia, in its office, Room 101, Finance Building,
Capital Square, Richmond, Virginia, until 11:00 o'clock A.M., Virginia time,
on this date; and
Whereas, the following bids for the purchase of the Bonds were received
by said Commission at said time and place;
Name of Bidder
Amount of Bid
Bankers Trust Company
Continental Illinois National
Bank and Trust Company of Chicago
E. F. Hutton & Company
First National Exchange Bank of
Roanoke and Associates, in
association with:
Reynolds Securities, Inc.
United Virginia Bank
The Bank of Virginia and
Associates, in association with:
Craigie, Mason-Hagan, Inc.
First & Merchants National Bank
and Associates
$1,075,000 bonds maturing September 1,
1976 to 1986, inclusive, at 6.70%;
$75,000 bonds maturing September 1, 1987
at 6.60%; $375,000 bonds maturing Septem-
ber 1, 1988 to 1992, inclusive, at 6.50%
$75,000 bonds maturing September 1, 1933
at 6.70%; $150,000 bonds maturing Septem-
ber 1, 1994 and 1995 at 5%.
premium - $1,735.25
The Chase Manhattan Bank, N.A,,
and Associates
$700,000 bonds maturing September 1,
1976 to 1982· inclusive· at 7%; $675,000
bonds maturing September 1, 1983 to 1990,
inclusive, at 6.50%; $300,000 bonds matur-
ing September 1, 1991 to 1994, inclusive,
at 6.70%; 575,000 bonds maturing Septem-
ber 1, 1995 at 5%.
premium - $200 000
First National City Bank and
Associates, in association with~
Donaldson, Lufkin & Jenrette
Sec. Corp.
Weeden & Co., Inc., and Associates
$100~000 bonds maturing September 1,
1976 at 6.75%I $100~000 bonds September 1,
1977 at 7%; $100,000 bonds maturing
September 1, 1978 at 6.75%~ $700,000 bonds
maturing September 1~ 1979 to 1985, in-
clusive, at 7%I $300,000 bonds maturing
September 1, 1986 to 1989, inclusive at
6.50%; $300,000 bonds maturing September 1,
1990 to 1993, inclusive, at 6.75%; $150,000
bonds maturing September 1, 1994 and 1995
at 5%,
Morgan Guaranty Trust Co.
of New York
premium - $ -0-
$600~000 bonds maturing September 1, 1976
to 1981, inclusive~ at 7%; $100,000 bonds
maturing September 1, 1982 at 6.75%;
$675,000 bonds matuirng September 1,
1983 to 1990, inclusive~ at 6.50%; $300,000
bonds maturing September 1, 1991 to 1994,
inclusive, at 6.7S%; $75~000 bonds matur-
ing September 1, 1995 at 5%.
The Northern Trust Company
Drexel Burnham & Co., Inc.
and Associates, in association
with:
Halsey, Stuart g Co., Inc.
(Affiliate of Bache & Co., Inc.)
Smith, Barney & Co., Incorporated
and Associates
premium - $1,965.00
$100,000 bonds maturing September 1, 1976
at 6.50%; $900,000 bonds maturing Septem-
ber 1, 1977 to 1985, inclusive, at 6.75%
$75,000 bonds maturing September 1, 1986
at 6.60%; $525,000 bonds maturing Septem-
ber 1, 1987 to 1993, inclusive, at 6.75%;
$150,000 bonds maturing September 1, 1994
1995 at 4.75%.
premium - $1,137.00
Each of the above bids offered to pay accrued interest from the date of the bonds
to the date of delivery.
Whereas, the bid of Bankers Trust Company and Associates has been deter-
mined to be the best bid for the Bonds in accordance with the provisions of the
Notice of Sale thereof:
BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF CHESTERFIELD COUNTY, VIRGINIA:
I. There shall be, and hereby is, accepted the bid of Bankers Trust Com-
pany and Associates for the purchase of the Bonds, the Bonds to bear interest at
the rates per annum set forth in Section 2 hereof.
2. The Bonds matuirng in the years set forth below shall bear interest
at the razes per annum as follows:
Year of Rate of Year of Ra'te of
Maturity Interest Maturity Interest
1976 6.70% 1986 6.70%
1977 6.70% 1987 6.60%
1978 6.70% 1988 6.50%
1979 6.70% 1989 6.50%
1980 6.70% 1990 6.50%
1981 6.70% 1991 6.50%
1982 6.70% 1992 6.50%
1983 6.70% 1993 6.70%
1984 6.70% 1994 5 %
1985 6.70% 1995 S %
3. The Clerk of the Board of Supervisors shall, and is hereby directed
to, file a copy of this resolution, certified by said Clerk, with the Circuit
Court of Chesterfield County,
4. This resolution shall take effect immediately upon its adoption,
The undersigned Clerk of Chesterfield County, Virginia, hereby certifies
that the foregoing constitutes a true and correct extract from the minutes of
an adjourned meeting of the Board of Supervisors of Chesterfield County held on
the 16th day of September, 1975 and of the whole thereof so far as applicable
to the matters referred to in such extract.
WITNESS my hand and the seal of Chesterfield County, Virginia, this
day of September, 1975.
(SEAL)
Clerk, Board of Supervisors of
Chesterfield County, Virginia
There was some discussion of the Route 60 Development Plan which is proposed to
be discussed at a Public Hearing on September 24th and it was pointed out that
there were possibly some areas of misunderstanding as to how this Plan would
be administered. Upon ocnsideration whereof, it is on motion of Mr. Apperson,
seconded by Mr. Myers, resolved that the Planning Staff be requested to study
further how the built up areas along Rt. 60 are to relate to the unimproved
areas in the proposed control of setbacks, density and entrance wasy and the
Planning Staff is requested to show examples of how this Development Plan would
affect some of the built up areas.
Ayes: Mr. Homer, Mr. Myers and Mr, Apperson,
On motion of Mr. Hornet, seconded by Mr. Apperson~ it is resolved that the High-
way Department be and it hereby is requested to accept Lake Drive into the
State Secondary System~
Lake Drive
Beginning at a point 0.01 mile southwest of its
southwest intersection with State Route 2354,
southwesterly 0.11 mile to its intersection with
U. S. Rt. 360.
0.12 mile
Ayes: Mr. Horner, Mr. Myers and Mr. Apperson.
Mr. Myers states that in the area around Lake Tree Manor there is an apparent
need for additional police surveillance and that this has been made abundantly
clear to him by the number of phone calls received concerning the problems. Upon
consideration whereof, it is on motion of Mr. Myers, seconded by Mr. Apperson,
resolved that the Police Chief be and he hereby is requested to have additional
police patrol the area of Lake Tree Manor.
Ayes: Mr. Horner, Mr. Myers and Mr. Apperson.
On motion of Mr. Apperson, seconded by Mr. Myers, it is resolved that the Director
of Planning, Mr. Michael Ritz, be authorized to attend the annual AIP Conference
!i to be held in San Antonio, Texas, October 25-29th.
Ayes: Mr. Horner, Mr. Myers and Mr. Apperson.
On motion of Mr. Apperson, seconded by Mr. Myers, it is resolved that this meet-
ing adjourns at 1:50 p.m. until 9:00 a.m. on September 24th,
Ayes: Mr. Homer, Mr. Myers, Mr. Apperson and Mr. O'Neill.
, ecretary
~Ir~Fin G.'Hor~ner,JG~alrman