1950-08-17 Regular Meeting - Laserfiche WebLink

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• `~/ ~ • • MINUTES - REGULAR MEHC}INt3 LA PORTS CITY COMI[ISSIC~J -AUGUST 17, 1950 10:00 A. M. Regular meeting of the -City Comaissiaes was called to order by l[ayor H. J. Pfeiffer, rdth the #'olloicing members. end city effiaials,preseat: Commissioners Jas. S. Crate, Jr., and Wm. ~'. Jones, City Attorney Carl C. Patriek~ Supt. of Public Works Raleigh Erwin, and J. E. Muldoon, City Clerk. Minutes of the last meeting were read and approved. The May®r instructed the City Clerk to open the bids on the X100,000 City of La Porte, Texas, Waterworks and Sewer System Revenue Bonds, which were advertised t® bs opened August 17, 1950. The bids were opened .and .tabulated as follows: The Columbian Secrrities Corporation of Texas-Par anc~.acerued,interdst plus cash premium X130.7$. .Average net interest rats - 2.6966596, Barcus~Kindred & Company -Par and accrued intareat plus cash premium ~11t2.25. Average net interest rate 2.733. Ballard-Haaaett Company -Par and accrued interest plus cash premium X100.00. Average Get interest rate 2.89`,6.. Dittmar & Company -Par and accrued interest plus cash premium X390.04. Ernest L. Brown, Jr., et al, Par and accrued interest plus cash premium $101.00. Aver- age net interest rate 3.09l~. Motion by Crate, saeond by Jones to aceept,bid submitted by the Columbian Securities Corporation of Texas. Carried. 0RDINA~1 C$ N0. 103 The Mayor introduced an ordinance which was read in (till. Commissioner Crate made a motion that the ordinance be adopted as read. The motiru~ was seconded by Commissioner Jones and carried by the following vote: AYES: Mayor Pfeiffer, Commissioners Crate and Jones. NOESs None. The ordinance thus adopted follows:. AN ORDNANCE AWARDING SALE OF X100,000 CITY ()F LA PORTS WATERWORISS AND SE41bR SYSTEM REVIIdUE BONDS, SERIES 1950 . BE IT ORDAINED by the City Coma43s sign of the City of La Porte, Texas: That the proposal of The Columbian Securities Corporation of Texas, San Antonio, Texas, to purchase at a price of par end accrnsd interest, plus a premium of .$130.78, the following described bonds, to-nit: