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Home My WebLink About1953-12-28-1100AM-SpecialDecember 19, 1953s necessary to vacate the present'courthouse and at that time to agree upon epscific facilities which f; might be used for county purposes. On motion duly seconded and unanimously adopted the Court received and approved the report l_ • 't ' of the Brasov County Health Unit for the month of November, 1953. County Judge inserted in the permanent minutes of the Court the following lease agreement, Fr' which _ he had signed with B. H. Actin as agent, in accordance with action of the Court on Monday, December 14, 1953 (Original agreement attached hereto). Whereupon the Court adjourned. Ix. ` jj°~ 1FiFppOAtl O1F1F44 _ k-, Special Meeting, Monday, December 28, 1953- A special meeting of the Commissioners' Court was held in the office of the County Judge in j• the courthouse on Monday, December 28, 1953, beginning at 11:00 a.m., with the following members present: 1 A. S. Ware, County Judge, presiding; y, Raymond A. Nolan, Commissioner of Precinct No. 1;}µ Reuben P. Conrad, Commissioner of Precinct No. 2; ^ 9• Clyde J. Porterfield, Commissioner of Precinct No. 31 and t"'• ° Newton Burlin, Commissioner of Precinct No. 4. • 'ibis special meeting was held pursuant to the following communication which had been sent out i, ' r to all security and bond dealers whose names and addressee were available: ' "BRAZOS COUNTZ:i KY~sr Bryan, Texas s December 11, 1953. ~j GENTLl]'9F , Brazos County Commissioners' Court will receive bide and proposals 4 for the purchase of Brazos County courthouse-fail bonds as authorized by our taxpayers in an election held on December 5, 1953, up to 11:00 a.m., on Monday, - December 28, 1953. At that time such bids and proposals will be publicly opened r; i*. and considered with the view of securing the.proposition which is the most ad- i vantageous to the county. All bide must be in conformity with one of the fol- ey.. lowing statementas ' 1. Total of $800,000 in one to twenty years with principal maturing at the rate of $40,000 per year. r' 2. Total of $800,000 in one to twenty-five years with principal, [ maturing at the rate of $32,000 per year. i , - • 3. Total of $7009000 in one to twenty yeare with principal maturing ~ c at the rate of $35,000 per year. IOL i- 4. Total of $700,000 in one to twenty-five years with principal ma- ! turing at the rate of $28,000 per year. Brazos County reserves the right to sell all or any part of the authorized i ' Vr issue of bonds to the successful bidder or bidders subject to delivery when and if' issued and to reject any or all bide. Proposals for consideration of the Commissioners' Court at the time here- inabove specified should be addressed to the undersigned. • Y onrs very trvlj /s/ A. S. Ware r{; ,•z, / (A. S. Ware) ASWd mf County'Judge■ In,accordancq with, the foregoing notice, ,a number of bond and security dealers appeared in r person or by their representative and submitted the following bids and proposals for the purchase ` r of the $800,000 in courthouee-jail bonds,'which Brazos County now proposes to issuer .~tr`~- i a~~~. ,t' ' , ,Y:k=, 41 ~t•~r-',ate t~ 7' ~•',•a n~_ I I , T"• ' r,jy ,!ia.'arY. ~~.~~37da#~ 'ats..r' ,•;.&i.`d t~f•=fk~n:•r~eC~v~,''.lScr`x'.-~t~-.~L~wr~,Zkic++raf. I '~~.r~nw! ,~,ff,,{. "~,i r ti a.'Frr-YaW'n jC`.,'M. .M1Y cRiNk°~U<ij C~utitiC:Y t••Y 2'> C, .f. .'K ~ a rr ..X l.;°v5'~.,:✓:CaL:~, :•iV~: ty1,,,:._wr - _ •~r 'ice ' ~~!'fd,I°}rT+, ; x r 1`_r, i - , ' - - 1 r_~ . 3 illlljjjj CZ f 4.. t4 +A~ t3 ~d :y rd Y1~ ,;`01 . tI December 28, 1953 "December 28, 1953 Dallas, Texas Honorable County Judge Commissioners' County Court • Brazos County f l Bryan, Texas l\ J Dear Sir: In accordance with your notice of sale published in the Taxes Bond Reporter, we will pay you par and accrued interest plus the cash premium of on for $800,000,00 Brazos County Court House and Jail Bonds maturing and bearing im. ' terest as followst $32,000.00 each year 1955 to 1979, Inclusive 2-3/4% ~I $32,000.00 each year 19_ to 19_9 Inclusive $32,000.00 each year 19 to 19_, Inclusive _ , Inclusive $32,000.00 each year 19_ to 19 $32,000.00 each year 19_ to 19_, Inclusive It is understood and agreed that all of said bonds maturing after eleven years a?y from their date shall be optional for redemption on or after tan years from their date on any interest paying date. The date of such bonds shall be ' They shall be in the denomination of $1,000.00 each with interest payable semi- annually at a place to be mutually agreed, preferably the First National Bank of Dallas. As evidence of our good faith, we attach good faith check in the amount of $16,000.00, being 2% of the principal amount of the bonds. This check is to be held uncashed by the County pending delivery of the bonds to us. Should we fail or refuse to accept said bonds when properly presented and within a reasonable period, the County shall cash said check and accept the proceeds therefrom as fully liquidated damages, otherwise, it shall be returned to us uncashed. This bid is contingent upon the bonds being approved as to legality by the Attorney General of the State of Texas and McCall, Parkhurst & Crowe, Bond Counselors, Dallas, Texas, and the enclosed finders contract of $7,200 or $9.00 per each $1,000 bond. Respectfully submitted, FIRST NATIONAL BANK IN DALLAS MERCANTILE NATIONAL HANK AT DALLAS STERN BIROS. & COMPANY, KANSAS CITY R. J. SWARDS, INC., OKLAHOMA CITY JA J= C. TUCKER & CO.,INC., AUSTIN By /e/ Harris R. Fender Authorized Representative. Accepted this the 28th day of December, 1953 by the Commissioner's Court of Brazos County, Texas. ATTEST: Clerk of the Commissioner's County Judge, Brazos County, Togas. Court, Brazos County, Texas December 28, 1953 ® r~ Dallas, Texas 9 ~ Honorable County Judge Commissioner's County Court Brazos County Bryan, Texas Dear Sir: In accordance with your notice of, sale- published in the Tons Bond Reporter we will pay you par and accrued interest plus the cash premium of $27.50 for $700,000.00 Brazos County Court House and Jail Bonds maturing and bearing in- tereat as follower $359000.00 each year 1955 to 1960, Inclusive 2-3/4% j $35,000.00 each year 1961 to 1967, Inclusive 2-1/276 • $35,000.00 each year 1968 to 1974, Inclusive 2-3/4% l $35,000.00 each year 19_ to 19,_, Inclusive ~j6 $35,000.00 each year 19_ to 19,_, Inclusive It is understood and agreed that all of said bonds maturing after eleven years ? -1 i from their dote shall be optional for redemption on or after-ton years from- their date on any interest paying date. The date of such bonds shall be ; February 1, 1954. They shall be in the denomination of $1,000.00 each with , interest payable semi-annually at a place to be mutually agreed, preferably( the First National Bank in Dallas. As evidence of our good faith, we attach good faith check in the amount of +r1Y•= fllL[~Vq tMy -~j 'w, i t - ~ f• - .,ry,•~ .n .•Y ..n _~S. i a 1 . T s - :4'Wu. Lzi - - + • 5'd "f;,"," T I , ; •71 v' #n~t. F,bl;lt,;x:4'9ia Y~ t r.. '7+' ' L , ; , c4 . December 28, 1953 u'rD C 14' „ $14,000.00, being 2% of the principal amount of the bonds. This check is to be held uncashed by the County pending delivery of the bonds to us. Should we fail or refuse to accept said bonds when properly presented and within a reasonable period, the County shall cash said check and accept the proceeds therefrom as fully liquidated damages, otherwise, it shall be returned to us encashed. This bid is contingent upon the bonds being approved as to legality by the Attorney General of the State of Texas and McCall, Parkhurst & Crowe, Bold Counselors, Dallas, Texas. ' Respectfully submitted, FIRST NATIONAL BANK IN DALLAS MERCANTILE NATIONAL BANK AT DALLAS STERN BROS. & COMPANY, KANSAS CITY • R. J. EDWARUS, INC., OKLAHOMA CITY JAMES C. TUCKER & CO., INC., AUSTIN By /s/ Harris R. Fender Authorised Representative. Accepted this the 28th day of December, 1953 by the Commissioner's Court of • Brazos County, Texas. 'l . ATTESTt Clerk of the Commissioner's County Judge, Brazos County, Texas Court, Brazos County, Texas HONORABLE COMMISSIONERS' COURT r BRAZOS COUNTY COURTHOUSE BRYAN, TEXAS 4 Gentlemen: For your legally issued $700,000 Brazos County Courthouse and Jall Bonds , to be dated on or about February 1, 1954, and to mature serially on or about February let as shown, with interest payable semi-annually, we respectfully pro- pose the following: We will pay the par value thereof plus a cash premium of $126.00 plus accrued interest from their date to the date of delivery, provided the Bonds bear interest and mature as follower ' , ' Amount Year Rate Amount Year Rate 28,000 1955 3T 428,000 19 2-374% r 28,000 1956 3% 28,000 1969 2-3/456 28,000 1957 3% 28,000 1970 2-3/456 28,000 1958 3% 28,000 1971 2-3/4% 28,000 1959 3% 28,000 1972 2-3/4% 28,000 1960 3% 28,000 1973 2-3/4% 28,000 1961 3% 28,000 1974 2-3/4% - 28,000 1962 3% 28,000 1975 2-3/4% 28,000 1963 3% 28,000 1976 2-3/4% 28,000 1964 2-3/4% 28,000 1977 2-3/4% y 'a t' 28,000 1965 2-3/4% 28,000 1978 2-3/4% 28,000 1966 2-3/4% 28,000 1979 2-3/456 4 Lz•f i 28,000 1967 2-3/456 , with all bonds maturing from 1965 to 1979 inclusive, to be optional for prior ' - payment ten (10) years from their date or , any interest payment date thereafter • O - at par and accrued interest. The Bonds are to be payable at Delivery and payment for the bonds by the undersigned will be made at the American National Bank, Austin, Texas. ® It is agreed and understood that the County will furnish the printed bonds, ' a transcript of legal proceedings had by the County in connection with the issuance, of the Bonds, and the final unqualified approving legal opinion of with all expenses to be borne by the County. } There is attached to this agreement a cashier's check in the amount of $16,000.00 made payable to the County, which is evidence of our good faith. Said check is to be held uncashed and returned to the undersigned upon payment and delivery of the bonds in accordance with this agreement. In the event we fail or - ; refuse to comply with this agreement, said check is to be cashed and the proceeds retained by, the County as full and complete liquidated damages against us. %4 `'r " r It is understood that this bid is made subject to immediate acceptance and is made for all or none of the Bonds as described herein. ' Net interest cost $2539274.00 Respectfully submitted, ' ' Effective interest rate" 2.7832.0 FRIDLEY & HIM MERCANTILE TRUST CO. OF ST. LOUIS - i' ' " " .x - REPUBLIC NATIONAL BANK OF DALLAS LENTZ, NEWTON & COMPANT „ /e/ John S. Davis Authorized Representative. 1W ,ir t ;gel '_4 r~. ,t 1 C ru' ,rx$, i' ~h V"4 f ..I f~ ~a . 'F December-28, 1953 APPROVED and accepted this dsy'of 195_,, by the Commissioner' Court of Brazos County, Texats. ATTSSTs County Judge County Clerk. tlww Equitable Securities Corporation, December 28, 1953. •322 Union Street Nashville 3, Tennessee. To the Hon. Judge A. S. Ware and Board Brazos County Bryan, Texas. For $700,000 legally issued courthouse and Jail bonds of Brazos County,;-. Taxas, delivered to us in dated February 1, 1954, and to mature serially as followzs 1955 $27,000 1961 $31,000 1968 $38,000 1956 27,000 1962 33,000 1969 39,000 1957 28,000 1963 33,000 1970 40,000 1958 28,000 1964 35,000 1971 42,000 1959 29,000 1965 35,000 1972 43,000 1960 30,000 1966 36,000 1973 44,000 1967 37,000 1974 45,000 callable October 1, 1964, or any interest date thereafter at par plus accrued interest; said bonds to be of the denomination of $1,000. Bearing interest at the rate of 2-3/4% per centum per annum. Payable annually, both principal and interest payable at Bank, in the City of WE WIld. PAT par plus accrued interest. Bonds will be delivered within 60 days from this data or thereafter at our option. This bid is made expressly subject to the approval by recognized bond attorneys of the legality of said bonds and the taxation or revonue pledging provisions relating thereto, you agreeing to furnish us promptly and prior to the delivery of said bonds, with a full certified transcript of all pro- ceedings had incident to the issuance of said bonds, and to furnish such other certificates and take such further action, if any, as such attorneys may reasonably request. We herewith hand you our check for $16,000 numbered 049 as evidence of our good faith in complying with the terms and conditions of this bid, and is to be held by you uncashed until the legality of same has been approved by recognized bond attorneys, and to be forfeited as full liquidated damages should we fail or refuse to take up said bonds as above provided. Said check is to be immediately returned to us if this bid is not accepted. Respectfully submitted, EQUITABLE SECURITIES CORPORATION By /a/ Richard L. Bradley, Underwood, Neuhaus & Co., Eppler, Guerin, & Turner, Keith, Reed & Co., Henry Seay. Accepted, thie__.d,y of . 19_. Official Title official Title wwa December 28, 1953. 'To the Honorable County-Judge 'and Comiaissionerst Court Brazos County, Terse Gentlement Foe your legally issued courthouse and jail bonds, in the total 'Par value amount of $700,000, more completely described below, authorised at an election December 5, 1953, we will pay you par and accrued interest - from date of issue to date of delivery to us, plus a cash premium of To be datedt Denominations Interest payables and semi-annually thereafter on and •7~ r. M 7 7- 77,7 ~tl✓L BII •i ~ to i` f i' e wv.z .t December 28, 1953 2 6 9 in each of the years. Principal and interest payable at. Maturing and bearing interest as follower $28,000 each year 1 to 25 years. V. Optional Provisions: 10 years from date at par. This figures an interest cost to you as follows: " j Grose Interest Cost $248.430.00 Leas Premium 0 Net Interest Coat 62LA L30-DO Effective Interest Rate 2.73000% c This offer is for prompt acceptance only, and is made subject to the unqualified approval of the legality of the bonds by the Attorney General of the State of Texas, and by Dimas, Huguenin & Boothman, Bond Attorneys, designated by you, and whose fee you will pay. You agree to furnish us full and complete transcript of all proceedings had incident to the issuance of the bonds. All other expenses incident to the issuance of the bonds, including printing of the bonds, submission of same to the attorney General and registra- tion by the Comptroller of Public Accounts, are to be paid by you. Delivery of the bonds is to be made to us at American Nat'l. Bank, Austin, Texas. This agreement shall be in full force and effect for a period of 45 days from the date hereof, and in the event you are unable to deliver such bonds to us within the prescribed period in conformity with the provisions hereof, then and in that event, we 4 shall no longer be bound by the terms hereof, but shall have an irrevocable option upon such bands for the 45 days next succeeding the expiration date of our commitment, under the same terms and conditions eat forth herein. As evidence of our good faith in submitting this proposal, we attach hereto Cashier's Check of the Marc. Nat'l. Bank, Dallas, Texas in the amount of $16,000.00 which is to be held by you uncashed and returned to us when we have carried out the terms of this agreement. Should we fail or refuse to comply with the terms hereof, said check is to be cashed and the proceeds retained by you as full and complete liquidated damages. Respectfully submitted, FIRST SOUTHWEST CCKPANY, Dallas, Texas R. A. UNDERWOOD & CO., Dallas, Texas ROTAN, MOSLE & MORELAND, Houston, Texas AUSTIN, HART & PARVIN, San Antonio, Texas r' TELAS BANK & TRUST CO., Dallas, Texas. By /e/ Joe W. Ellis i • -Y Authorized Representative. THE FOREGOING PROPOSAL is hereby accepted by action of and the is authorized to execute this cont a t d th r c an e to attest same, on this the day of _ 19_. r ATTEST: O ~ - , L 1111{1 Houston, Texas, December 28, 1953. Honorable County Judge and Commissioners' Court Brazos County >r' Bryan, Texas Gentlemen: For your legally issued Brazos County Courthouse and Jail Bonds which were voted _ at an election held on December 5, 1953, in the total amount of $700,000 to $800,000, to be dated on or about February 1 to March 1, 1954, and maturing in equal annual principal installments for twenty (20) years commencing one year from date, as set forth in State- mente 173 and N1 of your Official Notice to Bidders dated December 11, 1953, we will pay the total par value thereof $ plus a premium of $11.00, plus accrued interest from date of the bonds to date of delivery, providing said bonds bear ihterest from date until ' 3 final maturity as follows: , t " r k ` . _ All Bonds Maturing i. the Yeah ' Interest Rate f , - , „ 1955 2% 1956 through 1974 2.6% i } ' It is understood'that the ordinance authorizing this issue of bonds will contain the provision that all bonds maturing on and after ten (10) years from date will b ti ` e op onal .1'' f for redemption at par, plus accrued interest, in whole or in part,' in inverse numerical ' ` order, on and after ten (10) years from date. - -Ifi~'~f" 4r~~A:-x'1SlrV a,Y.•Y','rfw:i"iW4r~^iAfFdi~~~i~.~Y'~, tZ?~ r~ ~1A ry L: fc '•`1 ^~'!'i',i ~:"~1~.'+,r.~ tr'h.~r~~r,',.A, iflb:7`-,vH.."''~a'~.kkiFr°: ~.;:5"R~~l~`ij~Y~",-"t' s~~'-'";E p; it t.A• - w L,&~ ~S:T y6T¢ a; ' * S ^ ' r P• ~e; . . r . „ r G. .:n.ijrb . t 1' , -c, - t % Ir'S'rl f; , r 1. ~I 1 ~1 , r. i ~ZO December 28, 1953. Principal and semi-annual interest of said bonds ( ,and of each year with first coupon payable 195-J, MMS pays i s ata mutually agreeable paying agent to be designated as fbilows: (to'be agreed). This proposal is for immediate acceptance, and is conditioned upon said bonds b i d li d t f m e e ng vere o us or pay ent under the terms hereof at the American National Bank, Austin, Texas, accompanied by the unqualified approving opinion as to legality of the Attorney General of the State of Texas and hesers. Dusan, Huguenin 6 Boothmmn, Bond Attorneys, Dallas, Tome, within days from date of this agreement or thereafter at our option. In the event that the amount of bonds issued under the terms of this pro- posal should be eligible for purchase by the Permanent School Fund of the State of Tome, it is understood that you will take appropriate action for the State Board of Education to consider exercising or waiving their statutory right in this regard at their meeting to be held on January 4, 1954. As evidence of our good faith, we enclose herewith Cashier's Check in the f 6 !i amount o $1 ,000 to be held by you uncashed and returned to us when we have carried out the terms of our agreement, or should we fail or refuse to make payment for said bonds under the terms hereof, to be forfeited by us as full and complete liquidated damages and in full and final payment of any and all claims against us arising through ' breach of this agreement. • Respectfully submitted, ROWLES, WINSTON & CO. DALLAS RUPE & SON (Effective average interest rate 2.5974%) HUDSON, STAYART & CO., INC. MCCLUNG & KNICKERBOCKER RUS S & COMPANY By /e/ A. E. Goodwin, Jr. A?PROPED AND ACCEPTED this the _day of 1953, for bonds in the total par value of 3 , by resolution of the Commissioners' Court, Brazos County , Texas, duly passed. County Judge ATTEST: County Clerk. est San Antonio, Texas December 28, 1953 Honorable A. S, Ware, County Judge, and Commissioners' Court Brazos County Bryan, Texas i Gentlemen: i We are in receipt of your Notice of Sale requesting bide on either $700,000,00 or 88001000.00 BRAZOS'COUNTY COURTHOUSE AND•JAIL BONDS, which were voted at an election held for that pur ose' ur ose on D b p p ecem er 5, 1953• In this connection, we are l d p ease to submit two proposals for your legally issued Courthouse and Jail Bonds in the amount of $700,000.00, to be dated December 20, 1953, said bonds to mature serially on December 20th in each of the ears a t f th b y s ea or elow, the bonds to be callable at your option at par and accrued interest on thirty ' ! days notice on any interest paying data on or after December 20, 1963 interest , payable eemi-annually on June 20th and December 20th, the interest together f , with principal, to be payable at the office of the State Treasurer, Austin, Texas, or other t ll ® t ti mu ua y agreeable place of payment. The said bonds are to mature serially on December 20th in each of the years as follows: r 1954 532,000 1960 836,000 1966 $42,000 1955 32,000 1961 37,000 1967 43 000 , 1956 33,000 1962 38,000 1968 44,000 1957 34,000 1963 39 000 1969 4 ,0 , 00 5 1958 34,000 1964 40,000 1970 47,000 1959 35 000 1965 41 000 , , 1971 48,000 For bonds maturing as set forth above, we make you the following proposals: 7. PROPOSAL NO. 1: We will pay you par and accrued interest to date of delivery to us for bonds bearing interest as follows: • 8350,000.00 maturing in the years 1954 through 1963 at 2-1/2$ / 123,000.00 maturing in the years 1964 through 1966 at 2-1/4% 227,000.00 maturing in the years 1967 through 1971 at 2-1/2% PROPOSAL NO. 2: We will pay par and accrued interest from the date of the bonds to date of delivery to us for bonds bearin i t Y g n erest an follows: $ 97,000.00 maturing in the years 1954 through 1956 at 2-1/4$ 603,000.00 maturing in the years 1957 through 1971 at 2-1/2$ • On this proposal, No. 2, it is further agreed and understood that we will,take addi- tional bonds bearin 2-1/4$ b i i i ~ g , eg nn ng in the year,1957, in amourb equal to the amount of 2-1/2,$ bonds, which the Count and/or th l y o er ocal investors in Brazos County, including i^ ,u 77, i',x1 5 ' ~ `P E' December 28, 1953 the banks agree to purchase from us at par and accrued interest. Such purchases of the 2-1/2$ bonds at par and accrued interest shall be in their inverse numerical order, beginning with those bonds maturing in 1971. It is agreed and understood % that you shall have until 3:00 P. H., Tuesday, December 29, 1953, to determine the 'i~'• I - 1 . extent of the local interest in buying the 2-1/Z% bonds and at that time advise us 4 1 whether you wish to accept Proposal No. 2 in lieu of our Proposal No. 1. • 1r;t.,r.,',' It is agreed and understood that the bonds are to be delivered to us within a period of sixty days from date thereof at The American National Dank, Austin, Texas, accompanied by the unqualified approving legal opinion of Messrs. Dumas, Huguenin and Boothman, of Dallas, Texas. As evidence of our good faith, we attach,hereto Cashier's Check of the Mercantile National Bank Deli T r.. T , ~i After due consideration of the foregoing bide and proposals and it having been found and declared by the Court that not any one of them was in accordance with any one or more of the four propositions outlined in the request for bids and also at an interest rate presently acceptable, on motion duly seconded and unanimously adopted the Court voted to reject all of the said bids and proposals and to make no vale of the bonds at this time. 271 - ~n i` ik :'"4' 4L ~ y, r w, Whereupon the Court. adjourned. I s- ~,5, , / ' • (A County Judge A. SypL only Clerk. M 'r ' Special Meeting, Wednesday, January 60 1954. A special meeting of the Commissioners' Court of Brazos County, Texas, was held in the office of the County Judge in the courthouse beginning at 9:00 a.m., Wednesday, January 6, 1954, vtiR; D with the following members presents A. S. Ware, County Judge, presiding; ^ Raymond A. Nolan, Commissioner of Precinct No. 1; l J , 4 Reuben F. Conrad, Commissioner of Precinct No. 2; and rr + t Newton Burlin, Commissioner of Precinct No. 4. ' Commissioner Conrad laid before the Court the following proposal submitted by the Benson Tracto r ' 'r Com H an of u t T ith t h t h p y • on, exas, w o s reques a the county purchase a new mac t ine and trade in an old ~ ~ • , " used tractor and pap a net cash difference of $7,030.60: • ' „rt. A J , T . "'December 12, 1953• r 'f+ "99999= a Brazos County " Bryan Texas Attns Hr. Reuben F. Conrad, Precinct 02. t r Gentlemen: e `5 ° y We are pleased to' submit our quotation as follwe: k t Model ,HD5G Allis-Chalmers Tracto Shovel Diesel'Tractor with Drawbar y , ~ I r. r 'i :'hwi~~ ['✓~,..,ts°~:;d'o.,k r:i~l.:±1k>tksi• r.''1, 7F:.-Y':.b.;:'Aa;~.v.<t. t•. ~'2• ,i+i: `widiJi ~t `•C 3't i7 y ':-j~V vST m F,• " : ' t ~ 1 • , . -'•;f ,S. X377+' ~ i ; , ' v I , f ' . , - ' S , i as, exa9, in the amount of $14,000.00, to be held by you uncashed and returned to us when we have taken up and paid for the bonds in accordance with this agreement, or, should we fail or refuse to take up said bonds, to be forfeited by us as full and complete liquidated damages and in full and final settlement of any and all claims again et ue arising through breach of our agreement.-In the event the bonds cannot, for any reason, be delivered ih sixty days from date hereof, then the said bonds may be delivered to us thereafter only at our option and you agree to return the aforementioned Cashier's Check at our request at any time upon expiration of the sixty day period. Respectfully submitted, RAUSCIUM, PIERCE AND COMPANY COLUMBIAN SECURITIES CORPORATION DEWAR, ROBERTSON & PANCOAST , DITiHAR AND COMPANY By /e/ Fred D. Malsbury Authorized Representative."