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<br />• Regular Meeting 6/6/79 <br />TABULATION OF BIDS (CONTINUED) <br />Bidder Maturities Coupons Interest Cost <br />12. Greer Moreland Fosdick <br />Shepherd, Inc. <br />1982-1985 6.00 <br />1986 5.75 <br />1987 5.25$ <br />1988-1990 5.30$ <br />1991-1992 5.40$ <br />1993-1995 5.50 <br />-0- <br />9 <br />Net <br />Effective <br />Rate <br />GIC $712,200.00 5.4996 <br />Prem -0- <br />NIC $712,200.00 <br />Representatives of Moroney Beissner began to verify the bids. <br />Mr. Fetzer stated that the bid of First City National Bank of <br />Houston in the amount of 5.339189 interest was correct and the <br />best bid. He stated that in his opinion, it was an outstanding <br />bid and recommended the acceptance. <br />Motion by Commissioner Kibodeaux, seconded by Commissioner Simons <br />to accept the recommendation of Mr. Fetzer and award the bid for <br />the sale of $1,400,000.00 General Obligation Bonds, Series 1979, <br />• to the low bidder, First City National Bank of Houston, at the <br />interest rate of 5.339189$, for a NIC in the amount of $691,425.00. <br />Motion carried by the following vote: <br />AYES: Commissioners Tomerlin, Kibodeaux, Cline, Simons, and <br />Mayor Meza. <br />NAYS: None. <br />There was a brief discussion regarding the excellent response; <br />the improved rating, Moody's "A" and S & P's "A+"; and Baytown's <br />bonds selling for 5.43. <br />Moroney Beissner will send letters of appreciation to all the <br />bidders on the behalf of the City. <br />The Commission expressed appreciation to Moroney Beissner representatives, <br />and Mr. Dick Richards of Baker & Botts for their hard work. <br />+ + + <br />r: <br />