11-07-62 Minutes¥IXGINI:~: At an adjourned meeting of the
Board of Supervisors of Chesterfield
County, held at the Courthouse on
November ?th, 1962, at 2:30 p.m.
Present:
kr.Irvin G. Homer, Chairman
I~ir. H. T. Goyne
["~. Stanley it. Hague, Jr.
Mr. Raymond J.Britton
Mr. H.K. Hagerman
Absent:
-I'~ir. }.larshall F.Driskill
This day there were presented to this 8oar~ the -following bids for sale of the-
$&,OO0,O00 School Bonds of Chesterfield County, Virginia, dated December 1,1962,
and the SA,ODD,ODD Sewer Bonds of Chesterfield County, Virginia, dated December 1,
1962, which were received at 12 o'clock noon, Eastern Standard Time, on the 7th
day of November, 1962, at the Office of the State Commission on Local Debt of the
Commonwealth of vir~inia~ · , Room Number 228, Finance Building, Capitol Square,
Richmond, Virginia: . ·
~ ..... ~S~ ~atmonal Czty Bank snd Associates for th~ ~ ~ ~'
S ' ~ . , ~ ~,000,000 ~choo! Bonds
~,4uu,UUO Oonds ma~urzn 1~6 1 ' ~' . '
. ~ g ~ 3- 97~, both ~nclu~ve a~ 2 ....
~1,o00~O00 bonds maturin~ lO~ lO~ ~ ~-~ ,~..~, ~ ~ 3/~ p~ c~ntum,
~our Nllllon Five Thousand F~ur ~ nd~a q.~ .~ ~ .... ~-~- ,~, ~ 4t , %~,, sum
~ the ~,000,000 Sewer Bonds, ~800.000 bonds matnr~ lox~ ~n-~, , -- ~
at ~-3/~.~er centum, ~3,200~000 bonds~ .maturing 1975-1989,'both inclusive at
~e~vum,. ~ne~ sum of Four Million and no/lO0 Dollars (~W, 00~ O~. ~ ~ ~r~
o~ ~ . ~ F~%~ on all of the bonus of Doth ~s~es of P OAAq .... r ~e .... ~
,~uar~ e ~omDany, Inc., Smith. Barney & Comn~nv ~ Y~fll~-f~ ~ .... f.'
.~chooi Bonds] ~1 8CO 000 bondi m=+1[I~- 1R2'g'-T6~"~- ~f~ucz~pes, ~or v, ne
',h2,2~'~O00 bonds m~tur, ir.;~. 19',"'-~cr~e .~ ..... -
.... .... ¢~ -''- -~' .... ~ ............... USJVe~ a% 3 per ce~%u~, %h~ s~ 0f
Fu~r billion Twenty'Thousand and no/lO0 Dollars (~,020~OGO.O0)} rot the
Sewer Bonds~ 4{3~500~OO0 bonds ~a%uring 1965-1987~ both inclesive, at 3 per cen%um~
~00~?OO bonds No,urine 1988-1~8~_ both inclusive at 1/I0 hep eent-m ~h~
F~ur i'.'iillion and no/10~ Dollars (~A OO0 000/. rqt '~ ~m~2~i~ :12 ..... ~ ~'7
~. ...... . _ ~x~ ~ , } = ........... zv~ ~nberesL race on' ai.~
o~ the oonms or both zssues or 2.88192 per cen%um; Harris Trust & Savings~: _~aPk~
Merrill Lynch, Pierce, Fenner &Smith.. and Associates, for t.k~ ~,u~.u,'""' OOO School_
Bonds, bonds maturing 1963-19~2, both inclusive, at ~,10 per centum, the sum of
[ ?ur killion Twenty Thousand Nine Hundred and J'or~y-four end no/!O0 Dollars
1/10 per centum, the sum of Four ~diilion Twentw Thousand Nine ~hunarem~ ~ ~ Forty-Four
a~o n~lO0 Dollars (/+,O20,96A.O0}; st an effec%iw ink-rest rate an all ~,r
~I ~?pn ~soueg'oj' 2/~850 per centare; The Chase Nanhattan Bank, ~,.{anager & Associat..=s.
! ooo,0?0 Sc eo , o d ' , +O0,000 moth
~ ~-j,~ [er cen%um, ~oO0,000 bonds maturins 1980-1982. both inclusive at ~ ~n ~
c}n~m, t.~e cum of ~our ~,~].!mon aha. no/lDO Doll ars [~w. 000 Qnn no~. c,,. ~ ~- "
" uO0 0'~ " ' ~ .~ ~.. ,, , ,, r~ ' >~ -~ ..... '~,. ~c~
~, ~,00 aev. er ~ondo~ ~rl~BUO.O00 bones maCu~zn:-, 1705 iaaa P,,+-> ~--,.,,~.,-
{~e~lw~Oe.OO)~ ~ .~n s~ t...ci ...... ~: zn%eres~ FuSe on all or bhe bonds of bo~h
,Cf 2.?30i6 per centum; Srexei e Comnanv The Northern Trust Company. ]..':ana~e~ and
.assoczates, fo~ the ~,000,000 Schogl ~nds. ~'' "~ .... ' ~ '~
~3,600,OOub~nds ~zng 196j-I~80,
both inclusive, at 2.80 pe~, centum, ~00,006 bonds matu~zng 198~-1982, both
inclusive, ay ~.10 per cent~, the sum of ~our ~i~1~ ~ mh ....... ~ ~ ~ w
~mxtv-~o and 50/100 ~ollars ~-005-262.50)' For t~e ~. OmO ado ~ .... o~ "
~,OO0,0OO bonos matur~n~ 1955-19~0, both inclusive, at 2.80 ~er c~ntum '
~.000,000 bo~s maturing 19S!-lgS~, ~oth inclusive~ at ].10 ~e~ ~e~tum 'the
sum of Four.~ Million Five Thousand Two~ Hundred Sixty-Two and 50/100 Dollars
(~,005,2o~.50) at an effective interest rate on all of the bonds of both issues
~f 2.93~pe~ centum; Phelps, Fenn & Co.. F.W C~ai~ie a Co and A:~=~ ~
~ ~ , '' - ~ ., ~~ _u. the
~,000,0~0 Schocl~ Bonds', ~1,.800,000 bonds mamring. 1963-1971, both inclusive,
at 6 per centu~, ;$2 , 200, 000 ~onds maturing 1972-t982, both inclusive, at 3 p~r
cent~, the sum of Four Nillion Eight Thousand Eight Hundred Eight and nO/iGC Dollars
(~;~,008,808.00)~ for the ~,000,000 Sewer Bonds, ~$'3,500,000 bonds maturin~ i9d5-19~7,
both inclusive, at 3 per centum, ~:500,000 bonds maturing !988-1989, both inclusive,
at 1/10 p~r ....... cenvum, ~e sum of Wour F'~ll~on' and no/lO0 Dollars $~,O00,000.00~;
at an eI~ec~mve znterest r~te on all oi the bonds of both issues of 2.89176 per
centum; Morgan Guaranty Trust Company of New York and Associates, for the
~000,000 School Bonds; $2,~00.000 bonds maturin~ 1~6~ lO7~ bo+~ ~.,~
~.~ per centum, ~1,50~,OOO bonds maturing 197~-1982, both inclusive, at 2.875
ercentum, the sum of ~our Million and no/lO0 Dollars (~,000,000.00); fo~ th~
~,000,000 SewerBonds, ~50,000 bonds maturing 1965, at ~ per c~ntum 23 95~~ 00~
bonds maturing 1966-19S9, both inclusive, at 3.Der ce~tum, the~sum ~f E~ur ~.~illion
Four Hundred Eighty-one and nO/lO0 Dollars ($~,~00,~8!.O0); at an effective interest
rate on all of the bonds of both issues of 2.92~1 per cent~.
The following resolution was introdu ced by Mr. Stanley R.Hague, Jr.,
seconded by Mr.H.K.Hagerman, and adopted bM the following vote:
Ayes: Irvin G.Horner, Stanley R.Ha~e, Jri~ Raymond J.Britton,
H.K.Hagerman and Harold T.Goyne, Sr.
Nays: None
Whereas, the above mentiomd and named bids were this day received by this
Board.
Now, Therefore, Be it [{esolved by the Board of Supervisors of Chesterfield
County, Virginia:
The bid submitted by Halsey, Stuart & Co., Inc., Smith, Barney & ~o.,
an~ Associates, for the aforesaid ~,000,0OO Scb, oot Bonds, ~1,800,000 bonds
ma~uring December 1, 1963 to 1971, both ~' ~ ~'~' ....
~nc~u~l~e, at 6 per centum, ~2,2~.~,000
bonds maturing December ~. 1972 to 19~2 both inclusive~ at 3 per centum, the
sum of Four ~'~lillion Twenty Thousand end no/l~O Dollars (}~,020,000.O0); amd
for vne ~o~esaid S~,OO0~000 Sewer Bonds, ~;}3,500~O00 bonds maturins December 1~ ~
1965 ~o 1987, botk inclusive, at 3 per cent~, %500~000 oonus maturzng Lecemee~ i~
i~88 to 1989, both inclusive, at !/10 per centum, the sum of Pe~r ~{illion and
no/lO6 ~llars {,~.,OO0,O00) is kereby accepted, and the r$4,000~900 School ~onds of
Chesverfieid County, Virgi~nia, dated DeccNber 1, 1962~ and ~.he'~'l~4,0OO~OOO Sec.;er
Bonds of C~esterfield ~]aunty, Virginia, dated December 1, 1962~ are h.~reby a~arded
~ H~isey,Jku~r%, -~ ..... ~ ~:.. ~..f..bh Barney & Co.,an{~ ~ssoclat~.s, and said bonds
shall ~ear _n~r~o~ in ~ccordsnce with the ~e:~ms of said ~J.d; a certified copy cf
..?hich bid is hore~5o attached; which is an effective rate on all of the bonds cf
both issues of 2.88192 per con,sum.
On motion of~]r. Ooyne, seconded by l'.[[r. Britton, it is resolved that this Poard
award zr~e connract for pr4..nnini~ the i~ewer amd wac, er Bonds to the Columbian
Ba~k ['[ote Company, which 6ompany submitted the low bid.
On monion of' Mr. Ha;ue, seconded by idr. Goyne, it is resolved that the Executive
Secretazy be and he he.reoy i.~ requested to confer with bt. Wagner on the
feasibility of est,-~blishing clinics for' the inoculation of dogs.
On movion of' Mr.Brit~son, seconded by Mr.Goyne, it is resolved that the Purchasing
Agent be and he hereby is resuested to obtain the estimated cost of moving the
partition in nhe Dispatcher's office to facilitate the location of the teletype
machine.
On motion of Mr. Goyne, seconded by l~'lr. Hague~ it is resolved that the Engineering
Denartment be authorized to ~ave an old map of the County repaired to such
condition that it can be displayed in the Museum cases at the Courthouse.
Onmotion of ~'ir. Goyne, seconded by i,~r. Hague, it is resolved that the Buildings
and Grounds Committee be authorized to locate on the Courthouse grounds a suitable
place for' the planting of a pine tree by the Bermuda Ruritan Club.
On motion of Mr. Britton~ seconded by Mr. Hague~ it is resolved that the request
of iqr. H.B.',.'lalker for a trailer similar to the one recently installed for the
Treasurer, be continued for fu. rther study.
On mosion of i~'ir. Hague, seconded by ~.ir. Goyne, it is resolved that r~he study of
traffic conditions on R~. ~I and the resulting recommendations of the Highway
Deoartmant, b~ anti it hereby is received.
On moLion of Mr.Britton, seconded by ~'~r.Goyne, it is resolved t~hat the meeting
be adjourned unt:~l ~ovember 1L, 1962, at 9:00 a.m.
mxecutive oecre~a ry