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Home My WebLink AboutCOMM - Meeting Minutes - 198 - 4-12-1954 - COMMISSIONERMINUTE BOOK BOARD OF COUNTY COMMISSIONERS WASHINGTON COUNTY, PENNSYLVANIA FRANcIs E. PETTIT, W. J. LANE, JOHN MAZZA, COMMISSIONERS NO. 198 Office of the County Commissioners Washington, Pa., April 12, 1954 Board of County Commissioners in special session for the purpose of opening bids for the providing of the issue and sale of one hundred twenty thousand dollars ($120,000.00) airport improvement bonds. Those present at the meeting were Commissioners Pettit, Mazza, and Controller Elish. In accordance with the aforementioned advertisement, the following bids were opened and read. Peter Elish Controller of County of Washington Court House Washington, Pennsylvania Dear Sir: Subject to the conditions set forth -in the official notice of sale which are herd made a part of this bid, and to our receipt of an unqualified satisfactory approving legal opin- ion of Messrs. Burgwin, Ruffin, Perry & Pohl of Pittsburgh, Pennsylvania, without cost to us, we bid par and accrued interest from the day the issue is dated to the day of delivery plus a premium of Three Hundred Sevent -Ei t Dollars and Twenty Cents ($378.20) which is equivalent to 100-315167 for a 1 of the , 0 face value Coupon General Obligation Bonds, of County` of Washington, Pennsylvania, to mature as advertised. This bid is for immediate acceptance. If our bid is not accepted, our Good Faith check of $2400.00 which is enclosed, shall be returned immediately. Respectfully submitted, MCJUNKIN, PATTON & CO. CHAPLIN & COMPANY By: McJUNKIN, PATTON & CO. McJunkin, Patton & Co. John S. Patton, Jr. (owner) Mr. Peter Elish Controller of Washington County Washington County Court House Washington, Pa. Dear Sir: We hereby submit the following bid for the issue of $120.1000.00 General Obligation Bonds of the County of Washington, Pa., said bonds to be dated May 1, 1954 and to mature as follows: $10,000 on each November 1, 1955 to 1966, both inclusive with bonds numbered 61 to 120, inclusive, being callable in inverse order at the option of the County of Washington on November 1, 1960 or any interest payment date thereafter at 100 and accrued interest. said bonds to be in the denomination of $1,000 each and in coupon form, interest to be payable 6emiv-ahnua3ly on the lot days of May and November in each year, principal and interest to be pay- able without deduction for any taxes (except gift, succession or inheritance taxes) levied pur- suant to any present or future law of the Commonwealth of Pennsylvania: For all but not part of the above issue of bonds bearing interest at the rate of 1 3/4% per annum, we will bid par and accrued interest to date of delivery plus a total premium of $501900 being equivalent to a price of 100.4175 and accrued interest. This bid is subject to the terms of the offering outlined in the official notice of sale and is made with the understanding that if the bonds are awarded to us the County will furnish to us without charge the approving legal opinion of Messrs. Burgwin, Ruffin, Perry & Pohl of Pittsburgh, Pa. As evidence of good faith and as required by the terms of your advertisement we enclose our certified check for $2,400.00. Should the bonds be awarded to us and the legality approved by the attorneys, this check is to be applied against the purchase price; otherwise, it is to be returned to us immediately. J L� MINUTE BOOK BOARD OF COUNTY COMMISSIONERS WASHINGTON COUNTY, PENNSYLVANIA FRANCIS E. PETTIT, W. J. LANE, JOHN MAZZA, COMMISSIONERS 21'9 E Very truly yours, S. N. CUNNINGHAM & CO., INC. R. C. SCHMERTZ & CC., INC. By S. K. CUNNINGHAM & CO... INC. N. B. Cunningham Vice President & Treasurer Peter Elish, Controller Washington County Court House Washington, Pennsylvania Subject to the conditions set forth in the official notice of sale which are hereby made a part of this bid, we bid par and accrued interest from the day the issue is dated to the day of delivery plus a premium of THREE HUNDRED TWENTY SEVEN & 60/100ths .... Dollars ( $327.60 ) (which is equivalent to 100.273 %) for all of the $120,000 face valueof 1 7/6 % Coupon Airport Bonds, of the County of Washington, Washington, Pennsylvania to mature as advertised. This bid is for immediate acceptance. If our bid is not accepted, our good faith check of $2P400.00, which is enclosed, shall be returned immediately. Respectfully submitted STROUD & COMPANY Incorporated By: STROUD & COMPANY Incorporated F. W. Willey F. W. Willey Vice President Peter Elish, Controller of the County of Washington Court House Washington, Pennsylvania Dear Sir: In accordance with your official notice of sale for all or none of the $120,000.00 County of Washington, Pennsylvania general obligation bonds, to be dated May 1, 1954, we herewith bid you a price of $100.354 and accrued interest to date of delivery for each $100. par value of bonds thereof, bearing interest at the rate of 1 A % per annum due: Ten Bonds, $10,000, on November first of the years 1955 to 1966, inclusive. This bid is conditional upon this issue of bonds being a direct and binding obligation of the County of Washington, Pennsylvania and that said Bonds will be free of all taxes levied pursuant to any present or future law of the Commonwealth of Pennsylvania, except gift, succession, or inheritance taxes. The County of Washington, Pennsylvania shall reserve the right to call for redemption Bonds numbered 61 to 120 in inverse numerical order on November 1, 1960 or arry inter- est payment date thereafter at par and accrued interest. This bid is also conditional upon your furnishing us with a copy of the approving legal opinion of Messrs. Burgwin, Ruffin, Perry & Pohl, Pittsburgh, Pennsylvania. As evidence of our good faith, we herewith enclose our certified check in the amount of $2,400. payable to the County of Washington, Pennsylvania, which check is to be credited against the purchase price of the bonds if we are the successful bidder, and if not, the check is to be returned to us. Yours very truly, �w III# s 1 ��%,lW IFlV� & By: F. L. Satler, Jr. Mr. Peter Elish Controller of the County of Washington Court Ho,4se Washington, Pennsylvania Dear Sir: I I In accordance with your official notice of sale for all but no part of the MINUTE BOOK BOARD OF COUNTY COMMISSIONERS WASHINGTON COUNTY, PENNSYLVANIA FRANCIS E. PETtIT, W. J. LANE, JOHN MAZZA, COMMISSIONERS $120,000 County of Washington, Commonwealth of Pennsylvania General Obligation coupon bonds in denomination of $1,000 each bearing interest at the rate of 1 7/8 per centum per annum, interest payable semi-annually, we bid you a price of 100.11 for each_$M par value of bonds maturing as follows: $10,000 on November 1, 1955 to November 1, 1966, both inclusive. This bid is conditional upon the bonds being a direct and binding obligation of the County of Washington, Commonwealth of Pennsylvania, callable before maturity, and that said bonds will be free of all taxes levied pursuant to any present or future law of the Commonwealth of Pennsylvania, exept gift, succession or inheritance taxes. This bid is also conditional upon our receiving from you a copy of the approving legal opinion of Messrs. Burgwin, Ruffin, Perry & Pohl which cost will be borne by you. As evidence of our good faith, we herewith enclose our certified check in the amount of $2,400.00. Respectfully submitted, ARTHURS, LESTRANGE & CO. BY C . G. Peelo To the Honorable Members Board of Commissioners County of Washington j Court House Washington, Pa. i Honorable Sirs: In reply to your advertisement calling for bids for bonds tube dated May 1, 1954,9 we beg to advise that we will bid you par and accrued interest to date of delivery plus a premium of $228.00 for the $120,000. General Obligation Coupon Bonds of the County of Washington, Penn- sylvania, bearing interest at the rate of 1 3/4 % per annum, and maturing as follows: I $10,000. each November 1, 1955 to 1966, both inclusive However, with bonds being subject to redemption or call, in whole or in part, in their inverse numerical order, numbered 61 to 120 inclusive, on November 1, 1960, or on any interest payment date thereafter, at 100 and accrued interest, on not less than thirty days' notice to the holders thereof. The bonds will be in the denomination of $1000. each. Interest to be paid semi- annually at the office of the legal paying agent, without deduction for arty taxes now or here- after levied or assessed thereon pursuant to any present or future law of the Commonwealth of Pennsylvania, except for gift, succession or inheritance taxes. It is understood the bonds will be payable from a general ad valorem tax levied upon all taxable property within the County of Washington, within any limits prescribed by law. I It is also understood that we will be furnished with the unqualified legal opinionj of Messrs. Burgwin, Ruffin, Perry & Pohl, Pittsburgh, Pennsylvania, certifying as to the form of i the bond and the legality thereof. Said opinion to accompany the bonds at the time delivery is made to us. In compliance with your advertisement, we enclose herewith our certified check i No. 1101 drawn on the Peoples First Nat'l Bk & Tr Co. in the sum of .MOO.00. This check is our token of good will in making this bid, and s ould we be the successful bidder, upon delivery of the bonds to us the amount represented by the check can be deducted from the gross amount due you, but should we be the unsuccessful bidder or should we fail to receive delivery of the bonds from you, the check will be returned to us in its entirety without any deductions. Respectfully yours, FAUSET, STEELE & CO. SINGER, DEANE & SCRIBNER By - FAUSET, STEELE & CO., MANAGER Motion by Mr. Mazza, seconded by Mr. Pettit, that the bids be table for further tabulation and study by theCounty Solicitor Michael A. Hanna. Motion carried. At this timer Mr. Elish left the meeting. Board of County Commissioners in session to consider matters pertaining to the i County Real Estate, with the following members present: Commissioners Pettit and Mazza. Motion by Mr. Mazza, seconded by Mr. Pettit, that the County Solicitor be author- j ized to petition the Court of Common Pleas for its approval to sell at Private Sale the following