HomeMy WebLinkAbout1948-03-04 Special Meetingi 125
# ~f II~TtITES - SPECIAL AAEET I~
LA PORTS CITY COMMISSION -MARCH 4, l9l~$
-•~ ~ 10:00 A. M.
Special meeting of the City Commission was called to order by Mayor Pfeiffer,
with the following members and City officials present: Ca:rumissiem.ers Jas. S.
Crate, Jr. and James E. Stewart, City Attorney Jno. S.Kiibler, and City Clerk
J. E. Muldoon.
A group of bond people were present to~bid on the water and sewer Revenue Bonds.
They handed the Mayor their bids. The Mayor opened and read the bids as follows:
B. V. Christie et al - Bid - Par Value plus a premium of X250.00, said bonds
to bear interest at the following rate:
All bonds maturing 19Z~9 to 1958, inclusive, aggregating X5$,000.00
to bear interest at the rate of 3~ per annum.
All bonds maturing 1959 to 1977, inclusive, aggregating X192,000.00
to bear interest at the rate of -I~.~ per annum.
J. R. Phillips Investment Co. et al - Bid - Par Value thereof and accrued
interest from their date to date of delivery plus a premium of ~38.1.~0, said
bonds to bear interest at the following rate:
All bonds maturing 19I~9 t o 1963, inclusive, aggregating X96,000.00
to bear 3.nterest at the rate of 3~ per annum.
Ali. bonds maturing 196t~ to 1977, inclusive, aggregating X154,000.00
t o bear interest at the rate of °o per annum.
Barons, Kindred & Co. - Bid - Par Value thercof less a fee payable to us of
X3750.00, at the following rate:
All bonds maturing 1949 to 1977, inclusive, aggregating X250,000.00 to
bear interest at the late of 3-3/1~ per annum.
Nat interest a ost from March 15, 191x.8 to final maturity, plus fee,
~16s,9oo.00.
Barcus, Kindred & Co. - Alternate Bid - Par Value thereof and accrued in-
terest from their date to date of delivery plus a premium of NONE.
A11 bonds maturing 1949 to 1963, inclusive, aggregating X96,000.00
to bear interest at the r ate of 4~ per ann~a.
A11 bonds maturing 1964 t o 1977, inclusive, aggregating X148,000.00
to bear interest at rate of 3-3/1.~ per annum. Net interest cost
from Maroh 15, 1948, to final maturity, less cash premium, X169,330.00.
First of Texas Corporation, et al - Bid - Par Value thereof and scorned in-
terest from their date of delivery plus a premium of X175.00, said bonds to bear
interest at the following rate:
All bands maturing 1949 to 1963, inclusive, aggregating X96,000.00
to bear interest at the rate of 4~ -per annum.
All bonds maturing 1964 to 1877, inclusive, aggregating ~154,OOO.oO
to bear interest at the rate of 3 3/~ per annum. Net interest cost
from March 15, 194$ to final maturity, less sash premium, X167,065.00.
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Mc Clung & Kniekerbvek~& Ernest L. Brown, Jr. - Bid Par Value thereof
and accrued interest frcan their date to date of delivery plus a premium of
X251.00, said bonds to bear interest at the following rate:
All bands maturing 19Li.9 to 1969, inclusive, aggregating X151,000.00
to bear interest at the ~ rate of 3-3/x.,1 per annum. ,~
All bonds maturing 1970 to 1977, inclusive, aggregating X99,000.00
_ to bear interest at the rate of 3~ per annum.
. Nefit interest cost from. I'Ra,rch 15, 19.8 to final maturity, less cash
premium 158,539.00.
Average .interest rate 3.599• - -
After i:abulating the bids, it was found that Mc Clung & Knickerbocker and
Ernest L. Brown, Jr., had the best bad.
Motion by Crate, second by Stewart, to award sale of bonds to Mc Clung &
Kniokerbocker and Ernest L. Brawn, Jr., in accordance with their bid.
Carried.
Mayor .Pfeiffer returned to each of the .unsuccessful bidders, their certified
Cashier's Check in the amount of X5000.00, and ordered the Cashier's Check
of Ma Clung & Knickerbocker and Ernest L. Brov~m, Jr., in the amount of X5000.00,
be deposited in the First National Bank-of La Porte, Texas, pending their per-
fortaance of good faith.
The Mayor presented his Election Order .as follows: '
ORDER AND NOT ICE OF CITY ELECTION
THE STATE OF TEXAS
COUNTY OF HARRIS ~ - - ~~
C TTY OF LA. PORTE
ELECTION ORDER
I, H. J. Pfeiffer, Mayor of the City of La Port®, Texas, by virtue of
the power vested in me by law, do hereby order that an election be held in the
City of La Porte, an April 6th, A. D. 19l.~3, being the first Tuesday thereof,
for the purpose of clotting the following offioers of -said City:
. Mayor
Commissioner
Commissioner (two c~iissioners to be elected}
and that said election shall be _held at the CityLHall in .said City, and the
following named persons are hereby appointed managers thereof, to-wit:
Arbela Ralston ~ - Presiding Judge
Dallio V~Tright - Assistant Judge
Mrs. Calvin Oamipton - ~ Clerk
Mrs. Jimmie Rollins - Clerk
Rev. C. W. Faulk - Clerk
- Witness my hand this the ~.th day of March, A. D. 191x.8.
H. J. Pfeiffer ~ i~
Mayor, i y of Porte, Texas
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The Board of Ccmu-ri.ssicners approved the appointments of the managers as set out
in the above Election Order.
Motion by Crate, second by Stewwxt, that the meeting adjourn.
Carried.
ATTEST s
.~G2~i
oon, y er o t C ty
La Porte, Texas
f ~ ~ l ~
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e er, yor of the i of
La Porte, Texas
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