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HomeMy WebLinkAboutMIN 06.01.1964 CC-S0076 Georgetown, Texas. June 1, 1964 The City Council met in called session on the above date for the purpose of considering bids on t 369,000.00 , City of Georgetown Utility System Revenue Bonds Series 1964. Mayor R. S. Elliott presiding. The following Aldermen and officials being present. Rennie Wilcox, Or, Doyle Lyda, Edward Lee Evans, E. P. Miles, As YY. Hoyt, Jr., Lee C. Black, City ManaCer, Claud Eads, City Secretary, Fred Knauth, nan ?!owda,Chief of Police, J. D. Tinning, Slater & Sewer Supt. Lenard McLaughlin, Fire ITarshall, C. S. Sanders, City Tax Assessor and Collector. Los Hudson, H. %. Curington with Bryant & Curington Engineers. The following bids were submitted. For your legally issued Utility System Revenue Bonds, Series 1964 , as described in said notice of Sale, we will pay you par plus a cash premium of 73.80. provided said bonds bear interest as follows; Bonds maturing 1965 to 19b9, inclusive, bearing interest at 3 Bonds maturing 1970 to 1978, inclusive, bearing interest at 3.20 a Bonds maturing 1979 , inclusive ,bearing interest at 2-L,/4 Interest cost in accordance with the above bid iss Gross Interest Cost ----------------------------------4 101,835.00 Less Premium -------------------------------------- 73.0 NET INTEREST COST ----------------------------------- 101, 6 .20 Effective Interest Rate ----------------------------- 3-156017/7 Columbian Securities Corporation Funk, Hobbs & hart, Inc, San Antonio.Texas. For your legally issued Utility System Revenue Bonds, Series 1964, as described in said Notice of Sale, we will pay you par plus a cash premium of 4 None , provided said bonds bear interest as follows= Bonds maturing 2965 to 1972, inclusive, bearing interest at 3 14 Bonds maturing 1973, inclusive, beaking interest at 3�_ Bonds maturing 1974 to 1979, inclusive, bearing interest at 3 1Z4 Interest cost in accordance with the above bid iss Gross Interest Cost ---------------------------------t 103,242.50 Lesss Premium -----------------------------ft------- -0- NET INTEREST COST ----------------------------------- t 03, 2 Zs 50 Effective Interest Rate --- ------------------------- - 3,2323b Rauscher, Pierce & Co, Inc. Eddleman, Pollok & Yosdick, Inc. San Antonio 5, Texas. 377 For your legally issued Utility System Revenue Bonds, Series 1964, as described in said Notice of Sale, we will pay you par plus a cash premium, of $ 85.40 , provided said bonds bear interst as follows: Bonds maturing 19b5 to 1969, inclusive , bearing interest at 4.00 Bodds maturing 1970 to 1977, inclusive bearing interest at 3.25 % Bonds maturing 1978 to 1979, -inclusive, bearing interest at 3 3 interest cost in accordanee with the above bid ist Gross Interest Cost ----------------------------- 4 107,135.00 LessiPremium------------------------------------ 5.40 NET INTEREST COST ------------------------------ j 107,049.)0 Effective Interest Rate------------------------- 3.3515 7 First Southwest Co. Dallas, Texas. For your legally issued Utility System Revenue Bonds, Series 19t-4, as described in said Notice of Sale, we will pay you par plus a cash premium of t -0- ,provided said bonds bear interest as followst Bonds maturing 1965 to 1968, inclusive, bearing interest at 4.50 Bonds maturing 1969 to 1974, inclusive, bearing interest at 3.10 % Bonds maturing 1975 to 1979, inclusive ,bearing interest at 3.25 Interest cost in accordance with the above bid ist Gross Interest Cost ------------------------------- 104,b42.50 Less t Premium ------------------------------------ -u- NET INT MtEST COST -------------------------------- 104,042.50 Effective Interest Rate -------------------------- 3.27b22 �, Rowles, Vvinston & Co, Inc. Houston 2, Texas. For your legally issued Utility System Revenue Bonds, Serie; 1964, as described in said Notice of Sale, we will pay you par plus a cash preni» of I None , provided said bonds bear interest as followst Bonds maturing 1965 to 1968, inclusive, bearing interest at 3-1 ^onds maturing 1969 to 1977, inclusive, bearing interest at 3-114 % Bonds maturing 1978 to 1979, inclusive fearing interest at 3.30 -r - Interest cost in accordance with the above bid ist Gross Interest Cost ------------------------------- $ 104,737.50 Less; Premium ------------------------------- ------ ----- NET INT MEST COST --------------------------------- $ 104.737-55 Effective interest Rate --------------------------- 3,32791 iJ DITTILM &, CO,, IP'.C. SAN ANTONIO, TEXAS 378 71; For your legally issued Utility System Revenue Bonds, Series 19t,4, as described in said Notice of Sale, we will pay you par plus a cash premium of t , provided said bonds bear interest as followss Bonds maturing 1965 to 1969 , inclusive, bearing interest at _ 3 1 % F-onds maturing 1970 to 1979, inclusive, bearing interest at 3 1 Bonds maturing 19 to 19 , inclusive, bearing interest at Interest cost in accordance with the above bid iss Gross Interest Cost ---------p-------------------- $ 110,668.75 Leass Premium ---------------------------------- ------- NET INTEREST COST ------------------------------ ,7 Effective Interest Rate ------------------------ 3P4 4ti9 7 Dewar, Robertson & Pancoast M. E. Allison & Co., Inc. San Angonio, Texas. For your legally issued Utility System Revenue Bonds, Series 1964, as described in said Notice of Sale, we will pay you par plus a cash premium of. $ -0- , provided said bonds bear interest as followas Bonds maturing 1965 to 1970, inclusive, bearing interest at 3 1 f Bonds maturing 1971 to 1976 , inclusive, bearing interest at 3-1/4 Bonds maturing 1977 to 1979 , inclusive, bearing interest at 3.30 % Interest cost in accordance with the above bid iss Gross Interest Cost ------------------------------ $ 105,557.50 Lesss Premium --------------------------------- -0- NET INTEREST COST -------------------------------- 4 10 7.70 Effective Interest Rate ------------------------- 3.3049 RUSS & COMPANY, INC. ROTAN, 1,105LE & COVPANY SAN ANTONIO, TEXAS. Columbian Securities Corporation and funk, Hobbs & Hart , Inc., San Antonio, Texas, being low bidder. Motion by Evans and seconded by Lyda that Columbian Securities Cor- poration and Funk, Hobbs & Hart, Inc. San Antonio bid of 3.18601° interest rate and other specifications of bid be accepted. Votes as follows, AYES, Wilcox, Lyda, Evans, Hoyt, Miles - Noes -None. Ordinance authorizing the ISSUANCE OF REVENUE PONDS. Motion by Hoyt, and seconded by Lyda that ordinance be read in full . Motion carried by the following vote. Ayes- Wilcox, Lyda, Evans, Hoyt , Viles. Noes- None. Mayor declared Ordinance passed. See Ordinance Book Page 0 RFSOL11TION 379 YJHT;REAS, the City of Georgetown is contemplating improve^►ents to Yater and Sewer systems under U. S. P. H. Project - VfPC- TEX - 324 and Public Law 660: and WHEREAS, it is necessary that the City designate someone to sign contracts estimates and other instruments involved in the said proposed construction. N0W, THEREFORE, 'E IT RESOLVED that the Governing Body of the City of Georgetown designates its City Manager to sign contracts, agreements, estimates, and any other pertinent documents incident to the Utility additions,or con- struction in Georgetown, (Project U.S.P.H. WPC- TEX- 324) where the signature of a representative of the City is required. BE IT F'7RTHE2 RESOLVED that the City Secretary is hereby empowered to attest to the signature of the City Manager and to affix the City Seal if the same be required. PASSDD Ai:D APPRO`'ED this the 1st day of June 1964. yor (SEAL) City Secretary� I, Claud Eads, City Secretary of the City of Georgetown, Texas, hereby certify that the above is a true and correct copy of a Resolution passed by the Governing Body of the City of Georgetown on the day of 1964, the original copy is on file in the official record of the City which are in my custody. i+itness my hand and seal this the / day of �, 1964, City Scretary 380 Motion by Wilcox and seconded by Miles that the above Resolution be ac- cepted. Votes as follows - AYES- Wilcox, Lyda, Evans, hoyt, Idiles- Noes- none. Motion by Hoyt and seconded by -,Miles that Bryant- CurinCton present their plans and specifications of Water & Sewer improvement to the Texas Health Department for their approval and to expediate same with all speed. Motion carried by uaanimous vote. There being no further business on motion of Hoyt and seconded by Evans that meeting adjourn. 4ayor, City, Georgetown, Texas ATTEST j City Se r e t a r y