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Bid of Wachovia Bank and Trust Company offering to pay $575, 000 and accrued interest for the blocks of said bonds maturing in the years 1965 through 1982 bearing interest as follows:

$47,000 of bonds maturing in the years 1965 through 1966 at 5% per annum;
$ 25, 000 of bonds maturing in the year 1967 at 4 1/4% per annum;
$203, 000 of bonds maturing in the years 1968 through 1974 at 3% per annum; and
$300, 000 of bonds maturing in the years 1975 through 1982 at 3 1/4% per annum.

Bid of Merrill Lynch, Pierce, Fenner & Smith, Inc., Reynolds and Company, J. Lee Peeler & Company, Inc., Interstate Securities Corporation, and McCarley & Company, Inc., offering to pay $1,087,000 and accrued interest for the blocks of said bonds maturing in the years 1965 through 1992 bearing interest as follows:

$153,000 of bonds maturing in the years 1965 through 1970 at 5% per annum;
$29,000 of bonds maturing in the year 1971 at 4 3/4% per annum;
$93,000 of bonds maturing in the years 1972 through 1974 at 3% per annum;
$390,000 of bonds maturing in the years 1975 through 1984 at 3 1/4% per annum;
$197,000 of bonds maturing in the years 1985 through 1988 at 3.40% per annum; and
$225,000 of bonds maturing in the years 1989 through 1992 at 3 1/2% per annum.

Said notice calling for bids in the form published on August 22, 1963, in The News and Observer, Raleigh, North Carolina, and in The Daily Bond Buyer and the corrected Official Notice of Sale in the form transmitted to the Housing and Home Finance Agency, Atlanta, Georgia, and to investment bankers are each hereby ratified, confirmed and approved.

Section 2.

It is hereby determined that the bid of Merrill Lynch, Pierce, Fenner & Smith, Inc., Reynolds and Company, J. Lee Peeler & Company, Inc., Interstate Securities Corporation, and McCarley & Company, Inc., offering to pay $1,087,000 and accrued interest for the blocks of said Series B bonds maturing in the years 1965 through 1992 bearing interest as follows:

$153,000 of bonds maturing in the years 1965 through 1970 at 5% per annum;
$29,000 of bonds maturing in the year 1971 at 4 3/4% per annum;
$93,000 of bonds maturing in the years 1972 through 1974 at 3% per annum;
$390,000 of bonds maturing in the years 1975 through 1984 at 3 1/4% per annum;
$197,000 of bonds maturing in the years 1985 through 1988 at 3.40% per annum; and
$225,000 of bonds maturing in the years 1989 through 1992 at 3 1/2% per annum;

offers to purchase said blocks of bonds at the lowest net interest cost for all of the bonds with the maximum number of maturities and at an interest cost to the Board more favorable than the interest cost bid by the United