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HomeMy WebLinkAbout09-10-1934 Regular MeetingREGULAR P~FETINC~ LA PORTE CITY C~`UNCIL SEPTEI~ibER 10th 1934 ~teetin~a, was called to order by Mayor H B Harrison. The followir.~ named members of the council were present. Ald. Geo. Counts, J J Roark and L C le.wrence. Minutes of the previous meeting were read and approved. The following bills were presented and ordered paid. F C Dorgan, X44.00, Chas. Norris Sr., ~p44.00, F W Reynolds, ~p44.00 . Hooper Hdw. ~3.00.~ Porte Lbr. Co., X14.85, J J Reynolds,~1.50 Geo. H Blair, ~3.90,Magnolia Service Sta. 9.13,E E Browning,~7.60. News Pub. Co.,~19.75., Workman and Arthur, ~23.99.La Porte Hdw.~9.86. A Motion was made by Ald. Roark and seconded by Ald. Counts to authorize the St. Lighting Committee to arrange with the Houston Lighting and Power Co. to have all street lights discon- tinued indefinitely. Carried. A Motion was made by A~.d. Agee and seconded by Ald. Counts that the Council invite propositions to fund the City's Bonded indebtedness Carried Ald. Counts offered a motion which was seconded by Al d. Agee instructing the City Seety. to procure information as to the date claims against Gayle Bros .were filed with the City. Carried Ald. Lawrence offered a motion which was seconded by Ald. Agee that ad3ournment be taken until Monday September 1?th. when the council would meet in adjourned session to consider prop- ositions looking .to the funding of the City~s bonded indebtedness. Carried. Monday September 17 th. 9~i.e council was again called to order by Mayor H B Harrison with the following members present. old. Geo. Counts, C M Agee, L C Lawrence and J J Roark. Ald. Counts made a motion which was seconded by Ald. Lawrence that the councilcanvas the several propositions from represen- tatives of investrrient firuls present. Carried 14ir. W G Austin representing Harvey Lyons and King explained his proposition to the Council and offered to handle the. refunding of the City~s bonded indebtedness at a cost to the City of 1~ of Bonds exchanged. 1% to be paid cash when 51% Over Brot ~~d. or more of the Bond holders had agreed to exchange their Bonds for the new issue and the Bonds had been approved by the Attorney General. Zhe balance of 2 of 1% to be ' paid as exchange was effected. ~TUdge Jessup representing Phillips investment Co. presented aproposition the same in detail as that presented by the firm of Harvey Lyons and King except that the cost to the City would be 2~ of all Bonds exchanged. 1~ to be paid when the Bonds had been approved by the Attorney General, the balance to be paid as Bonds were exchanged. Mr. A~.den, representing H C Burt and Co. reccommended that the City only attempt to refund such Bond as had. matured and were unpaid at maturity.His proposition was re3ected in favor of refunding all of the Bonded indebtedness. & poll of the Council was taken for the awarding of the contract and the results were as follows in favor of Harvey Lyons and Bing an their bid of 1~2,%'. It~~i~#v~~~3~~~r .&.1d. Geo. Counts Yea. " L C Lawrence Yea. " C b~ Agee Yea. " J J Roark Yea. The Mayor declared the award to Harvey $yons and King. The City Secs y. was authorized to procure copy of tah title deed to lots assessed to n L dphel and bot by the City Dec. 4, 1923. Motion was made to ad3ourn . Carried. `. c {~~~ pia yor ~.