Here's another $10 garage sale find - a 1984ish Raleigh Sportif ladies bike. Made out of genuine Reynolds 410 steel according to the sticker on the seat tube - apparently, the same stuff quality boat anchors are made of.
Lots of surface rust that needed to be cleaned off, and it needed the usual tires and bar tape. But the adjustments were dead on, and the low-end Suntour stuff works flawlessly now after being cleaned and lubed.