HomeMy WebLinkAbout1955-02-01 Special Meetingi
MINUTES - SPECIAL M~TIl~
LA PORTE CITY CONA![ISSION -FEBRUARY 1ST, 1955
10:00 A. M.
Special meeting of the La Porte City Commission was called to order by Mayor M.
D. Burgin, with the following members and city officials present : Com~.ssiox:er s
L. R, Rigby and H .P. Pfeiffer, Special Counsel Jho. S. Kiibler, and City Clerk
J.E, Muldoon,
Minutes of the last meeting were read and approved.
One of the purposes' of this meeting was to open bids for the sale of X60,000
Sanitary Sewer System Improvement Beds. The Mayor instructed the City Clerk
to open 'and tabulate the bids, The bids were opened and tabulated as follows:
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Mc Clung & Knickerbocker 3.32013 ~ Effective Int. Rate
First of Texas Corporation 3.365 ~ Effective Irrt . Rate
Motion by Rigby, second by Pfeiffer, to accept bid submitted by Mc Clung &
Knickerbocl~r,' The bid was as follows:
The Honorable Mayor
and City Council
City o f La Porte, Texas
Gentlemen:
For your ~b0, 000 City of La Porte, Texas Sanit ary Sewer System Im..
provement Bonds dated February 1a, 1955, we bid you par and accrued
interest plus a cash premium of ~ for bonds bearing in-
terest and maturing February 15 as~ollows::~
Year Amount Rate Year Amt. Rate
1959 $2,000 2-3/1~ 1968 X3,000 3-1/~
1960 2,000 2-3/!~ 1969 X3,000 3-1/!~
1961 2,000 2-3/!.~ 1970 X3,000 3-1/t~
1962 2,000 2-3/!~ 1971 X3,000 3-1/l~
1963 2,000 2-3/1~ 1972 X3,000 3-1/1.~
196l~ 2, 000 2-3/~ 1973 $3,000 3-1/2~
1965 2,000 2-3/!~ 197 $3,000 3-1/2
1966 3,000 2-3 /1.~ 1975 $3, 000 3-1/2
196? 3,000 3-1/1~ 1976 ~b,oo0 3-1/2~
Total interest to maturity X30,180.00
Less Premium ~ -0-
Net Interest X30,180.00
Effective Interest Rate 3,32013 ~
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Both principal and semi-annual interest (February 15 and August 15) payab]~
at the First National Ba.-k, La Porte, Texas. First interest payable Feb-
ruary 15, 1956.
A11 bonds maturing on car after February 7,5, 1971 will be optional at par and
accrued interest on any interest payment date on or after February 15, 1970.
This bid is subject only to delivery not later than March 15, 1955 ar~d to
legality as approved by Dumas, Huguenin & Boothman, Dallas, Texas. The
undersigned agrees to pay the cost of this legal opinion.
Bonds may be delivered at the American National Bank, Austin, Texas.
Attached hereto is a C ashier~ s Check or Certified Check in the amount of
$1,200.00 which check is to be held by the City encashed until bonds are
delivered under terms of this bitl, at which time it shall be returned cr
should ire fail ar refuse to comply with the terms of this bad, then this
check shall be cashed as full and complete liquidated damages.
Tie City reserves the right to accept ar reject any ar all bids.
Respectfully submitted,
MCCLUI~ & KNICKERBOCKER
By W.E. Knickerbocker
W.E. Knicker kGr
The Mayar~ introduced an Ordinance, which was read in fu7.1. Commissioner
Rigby moved that it be adopted as read. The motion was seconded by Comtm-
issioner Pfeiffer, and carri. ed by the follovri.ng vote; AYES: Mayoo" Burgin,
Commissioners Rigby anci Pfeiffer. NOES: None. The Ordinance thus adopted
follows :
ORDINANCE N0. 480
AN QRDINANCE AUTHCfRIZING THE ISSUANCE OF ~b0.000.00 SANITARY
SIDYER SYSTEM BONDS, SERIES 1955; PRESC.ftIBIl~ THE TERN6 AND CONDITIONS
THEREOF; AND LEVYING TAXFS TO PAY THE PRINCIPAL AND INTEREST THERECS~i.
PASSID aril APPROVED this 1st day of February, 1955.
M. D. Burgin, Mayaa~
ATTEST:
J.E. Muldoon, City Clerk
,:
~~
The Conanission unanimously appointed the Boy Scouts of ~nerica as
Police Officers ~r the Day, on February 12, 1955, to enforce traffic
regulations and collect traffic fines.
Carried.
A discussion was held on street lamps, however no action was talflen.
Motion by Pfeiffer, secoasd by Rigby to purchase an asphalt distributor
ma chine, 600 gallon capacity, for 225.00 fran R. B. Everett & Company,
Houston, Texas.
Carried.
The Commission unanimously instructed J. E. Muldoon, City Clerk, to
write Binz J. Settegast Estate, requestti.ng that they r emit to the City
of La Porte, the sum of ~1.la.0.00, their pro-rata part in the construction
of a sewer main in Block 80, La Porte, so that this work can be comm-
enced.
Motion by Rigby, second by Pfeiffer, that the meeting adjourn.
ATTEST
J. E. M on, y erk o e
City of La Porte, Texas
Carried.
277
M. 5, urgin, M aft C ty
of L a Porte, T exa.s