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~~ .._.. <br />~ ~i <br />SPEC TAL i4LE'ET ING <br />s <br />LAP ORTE CITY C 0 U1?C IL <br />DECFIr>FsER EIGHTE~,'Tv <br />1934 <br />iLeeting was called to order by Illayor H B Harrison. <br />The following members of the council were present. <br />Alderman Counts, Sharpy Lawrence and Agee. <br />The Mayor explained tn.at the meeting was called for the <br />purpose of acting upon an amended proposition to the <br />original one for refunding the Cities indebtedness which <br />called for the refunding Bonds and .~~arrants to draw inter- <br />est at the rate of 4% fo'r ten years and 5% for twenty years. <br />The amended proposition calling f'or interest at the rate <br />of 4/ for ten years, 5 o for ten years and 6~ for thereafter. <br />I~ir. Austin was present and explained that the largest Bond <br />holde~sobjected to the reduction in interest rate as show <br />by the original proposition but agreed to ri~f~r~ accept <br />refunding Boffids at the rate as shown by the amended propo- <br />sition. <br />Alderman Agee offered a motion which vaas seconded by Al d. <br />~~ Counts that the council accept the amended proposition. <br />_ The roll call vote was as follows. Ald. Counts Yea. Ald. <br />Sharp, Yea. Ald. Agee, Yea. Ald. Lawrence Yea. Alderman <br />Roark was abscent. <br />~'` <br />Ald. Counts offered a motion which was seconded by Ald. <br />Lawrence that io;r. Austin be given authority to negotiate <br />with the Bond holders fora reduction of 100 on past due ;i <br />interest. <br />The council adjourned by unanimous vote of that body. <br />~'~~- <br />,;' <br />iVlayor <br />I <br />