Evening star., 1954-11-30
PROPOSALS tcont.l

GOV; OF DIST. OF COL. DEPT. OF
SEALED pRoposAils wi win De sHsd reed.
in RIM. 4O4, 400 Pa. Ave- NV.
Wash. !. D; G.. until . PM. EST.
Uee: q 1853. and then publicly
Conc. Rdwys., Alley Pavements and
Sidewalks. incl. driveways at var.
locations within d. C.. consist ok
1,uOU So. yds. Gem. conc. sidewalks,
cut repairs only; 10000 50. yds.
Gem. GEN.. conc: sidewalks. ,epsirs to
Conc. rdwy. pavement. cut repairs
only; and 500 Gu. yds. Gem conc.
roWy. pavement, repairs to detective
area: PROPOSAL forms and specns.
o1nlainable from Supervisor, contr. q
Bond Section. without charge. Pro.
Surement once, D. c., Rm. 406, 499
"a: Ave- NV. Tel. Ma. $4,000.
noa0-del ,2.3.4.6
NOTICE OF SALE Of preliminary
bla RedeYelopment Land Agency
November, 80 1854. Sealed pro-
posals will be received by the Dis.
trlct OF Columbia Redeveiopment
Local Public Agency'D at 499 Penn.
sylvania Avenue, NV. in Washing:
ton. D. c.. until, and publicly opened
at one O'Clock. PM, tE.S.TJ. on
December "A; 1854. for the pur:
the Local public Agency TO be known
as Preliminary Loan Notes tFirst
SerleSl, being issued to aid in
financing its slum clearance ana
uroan redevelopment project. desiE-
Raieh efST the 6nsa SG ststes gs 2S 81 AmsrSs Ss
acting by ana Jnrougn the housing
anu Home Finance Administrator
has agreed to maze a loan unoer
ItIie 1tue,,c I Of the housing Act OF lsa9
Local Public. Agency to assist in the
latters underlaking ana carving
out thereof. The notes will be dated
bearer on July s. 1858. viii bear
interest at the rate or rates per
annum fixed in the PROPOSAL or pro:
posals accepted for the purchase OF
sucn noteS. Will be issued in such
denominations, and both, principal
aoie al such incorporated Bank
hat ing trust powers or incorporated
Trust ,onpany. as the purchaser
designates i'll. his proposal. Sucn
BsnS memosq Or Trust Company must be
System, or OF the FEDERAL Deposit
Insurance Corporation. and must
nave an unimpaired capital and
surplus OF not less than the sg-
sreGsns srssate p principal nc amount amount Of notes
posals submitted by the purchaser.
provided, however. that such un.
impaired capital and surplus need
not exceed One Million Dollars. The
not valid until after such Bank or
Trust Company has signed the agree
ment, appearing on each note. to
act as paying agent. The notes Will
Sus e for % ssRsrR sfR Bahs q % e
purchaser upon rece.ot and dis
bursement by such Bank or Trust
Company OF the purchase price
thereof in accordance with insIruc.
tiens a9iIs from the Local Pupiie Agency:
the purchaser shall obtain the sig
nature of such Bank or Trust Gem.
pany upon the notes. as aforesaid.
Al fees or charges, If any, of such
paid BY such purchaser; Said notes
vail be special obligations of the
Local Public Agency secured by q
reuuisition agreement between The
Lpcal Public AGENCY and the United
States, OF, America under the ter ms
States of America agrees to pur-
chase Prolect Temporary Loan
Note OF the Local Public Agency
prior. to the maturity of said notes
the. principal and interest Of all
said notes and agrees to cause so
much OF the proceeds OF such Project
Temporary Loan Note as shall be
and interest UPON any Of said no.ss
to be deposited at the respective
Bank or Trust Company at which
said notes are payable for the bene.
A. of the, holder or holders Of said
IZInQ said mites. the nrnRaadC nj
such Project Temporary Loan Note
will be irrevocably pledged first. to
the payment. at maturity. OF the
oes Tbe Of validity f9f n5frs6 IF s6s Pr P1e Sad
nsrv Loan Notes and of said reaui-
sition agreement will be approved
by Messrs. Caldwell. Marshall. Trim
Bile and Mitchell. lis Broadway. New
York 6. New York. and such attor-
news, opinion will be furnished by
the Local Public Agency 10 the sue
ceSsful purchaser without charge. All
proposals for the purchase of said
notes shall be submitted in a form
sppToN ssppTTovedi by the Local Public Agency:
Asency at the. address indicated
above or from the General Counsel.
Washington sno a5. % g. G. aGee Propesals Asensy may
be for all or anv part of the notes
and separate PROPOSALS will be re-
ouired for each part OF said notes
for, which separate interest rate
at the lowest interest rate or rates
offered in the proposals without
reference to premium: provided,
however, that as among proposals
specifying the same lowest interest
basis of the highest nremium per
dollar principal amount of notes
specified In such proposals. No bid
for less than $4,000 principal
amount of said notes or for less
(which Interest shall Iu be eompn'ed nSaissi
on ,360-dsy basisl will be enter
tained and the Local Public Agency
reserves the risht to award to any
@ 6idisr al or any part of the notes
in his proposal. upon the hasis Of
such pronosal. II only a part Of the
notes bid for In a PROPOSAL are
awarded hv the. Local Prblir Agency.
1eno the premium II any: offered in such
notes will be issued in denomina-
ticns in the order OF the lowest
denominations specified In such pro-
posaa: provided. that one note may
than is otherwise specified The fur.
ther right is reserved to reject any
or all proposals. Title nf said
Hous1ng Act Of 1949 provides as
follows, "obligations. including in-
terest thereon. issued bv local pub
lie agencies for projects assisted
pursuant to this title and income
derived by such agencies from such
projects, shall be exempt from iii
taxation now or hereafter imposed By
the United States" In the event
that prior to the delivery Of af1y
OF the notes To the successful bid
der therefor the income received by
private holders from oblieations Of
the same type and character shall
be taxable bv the terms of any Fed-
eral income tax law hereafter en-
acted; the successful bidder may. at
his election. be relieved of his obii.
cations under the contract to pur-