HomeMy WebLinkAboutMinutes - City Council - Regular - 1/6/1956RECESSED REGULAR MEETING
Lubbock, Texas
January 6, 1956
The City Commission of the City of Lubbock, Texas, met at 10:30 o'clock A.M. in recessed regular
session, recessed from Regular K"eeting of December 20, 1955, at the regular meeting place in the
City Hall., the following; members thereof being present to -wit:
Mayor Murrell R. Tripp, Comrissioners Leiuzis 3aker, Hurley Carpenter and-S.S. Forrest, City Manager
H. P. Clifton, City Attorney Vaughn E. Wilson, City Secretary -Treasurer Lavenia Lowe.
Absent: Commissioner Lucian Thomas
5-14-384-866 The following report of Social ,Security referendum held on December 21, 1955, under the Direction of
the State Department of Public Ielfare, said referendum having been requested in accordance with
Resolution passed by the City Commission on August 25, 1955, of record at page 235, 1yinute Book 14,
was given the City Commission..
Total Eligible Voters . . . . . . . . . . . . . . . . . . . . . . . . .. . .435
Total Votes Polled. . . . . . . . .418
Total Voting FOR the addition_ of Social Security benefits. 392
Total voting AGAI?•r::T the addition of Social Security benefits. 19
Total riutila�ed ballots . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
After reviewing the above report, motion was made by Commissioner Baker,seconded by Cormnissioner
Forrest, motion carried, I•iayor Tripp and Commissioners Baker, Carpenter and Forrest vctir�g Yea, none
voting Nay, to authorize Ordinance -o. 1820 to be passed on first reading.
ORDINA::CE NO. 1820
AN ORDIFANCE AUTHORIZING THE CITY C01,1 ISSION OF THE CITY OF LUBBOCIK, ACTIFG FOR Ai?D ON BEHALF
OF SAID CITY TO EKTHER iNTO ALL 11ECESStal. AGREEMENTS WITH THE STATE DEPARTS -ENT OF PUBLIC b.lLFARE
RELATIVE TO FEDERAL OLD -AGE AND SURVIVORS INSURANCE BENEFITS UNDER THE, PROVISIONS OF APPLICABLE STATE
AND FEDERAL L dS; AUTHORIZING THE MAYOR TO.EXECUTE ALL SA;D ivECESSARY AGREE'i.�MNTS A:,D INST UYWTS FOR
AND ON BEHALF OF SA]D CITY COITN iSION AND CITY; DIRECTING THE CITY AUDITOR OF THE CITY OF�.LUBBOCK
TO 1-APE ASSES3�,a.?`TTS, COLLECTIONS, AND REPORTS; AND ORDERING TIE . ALLOCATI.ON A:;D SETTING ASIDE OF .
SUFFICI NIT IiOrIEY FROM AVAILAnE FUNDS TO CARLY OUT THE PROVISIMS OF SAID LAWS, SUCH MONEY TO BE SET
ASIDE AND IiAINTAINED IN THE 'REGULAR CITY DEPOSITORY AND TO BE KN07r0 AS THE CITY OF LUB3OCK SOCIAL
SECURITY FUND.
The Mayor and City Commissioners stated that they did not wish to be covered under the City's
Social Security program.
-14-384-867 Motion by Commissioner Forrest, seconded by Commissioner Carpenter, motion carried, Mayor Tripp and
Commissioners Baker, Carpenter and Forrest voting Yea, none voting Nay, to approve the construction
of a 69 K.V. electric line to encircle the City of Lubbock. Said electric lire to be constructed
in the vicinity of the City Limits, portions of the.line to be constructed at intervals as
authorized by the City Commission. Payment for construction of this "Loop Line" to be made from
Bond Funds.
-14-384-868 A=otion by Commissioner Forrest, seconded by Ccmmissioner Baku, motion carried, Mayor Tripp and
Commissioners Baker, Carpenter and Forrest voting Yea, none voting Pray, to authorize the City Itanager
to negotiate for contract between. the City of Lubbock and h.B. Zackry Co. of San Antonio, 'Texas, to
design and construct tl!e West "Leg" of 69,000 volt electric line to surround the City of Lubbock. This
portion of t:ie lire tD encircle the City in the vicinity of the City Limits in Northwest Lubbock.
vilater Booster Station No. 7 located at the Brownfield Highway and Side Road to be served with
electricity from this line. It is anticipated that the line will be constructed by City Forces.
-14-384-869 There was discussion of ap;eal of case No. 23871 in 99tk, District Court styled Fronia Johnston against
the City of Lubbock and it was unanimously a;.reed by the City Commission to authorize the City
Attorne,,• to apreal this case.
-14-384-870 Iiotion by Commissioner Carpenter., seconded by Commissioner Forrest, motion carried, Layor Tripp and
Commissioners Balser, Carpenter and Forrest voting Yea, none -voting Dray-, to authorize publication of
th following ::otice of Sale of City of Lubbock Bonds. Bonds to be sold February 14, 1956.
NOTICZ OF SALE
IW7,300,000 - jA : t� .IOR't3 SY3TEI RE11E :eUE BONDS
$2,500,000 GEII AL OBLIGATION BONDS
SERIES 1956
of the
CITY OF LU DOCK, TEXAS
Selling
Tuesday, February 14th, 1956, at 10=00 o'clock A.;�:., C.S.T.
The City Commission of the City of Lubbock, Texas, will receive sealed bids at the City hall until
the 11pt:i day of February, 1956, at 10:00 o'clock A.Y., C.S.T., for the following bonds:
$7,300,000 WATERWORKS SYSTU' REVEITUE BONDa SERIES 1956 to be dated March 1, 1956; denomination
�1,000; interest payable December 1, 1956 and semi-annually thereafter on June 1 and December 1;
principal and interest to be payable at the First National City Bank of New York; New �:ork and
the Citizev-s National Bank, Lub'-�ock, Texas, as Co -Paying Ag.,=:t; to be optional June 1, 1968 at kar
and accrued interest; maturing Jude l.as follows:
�250,000 each 1957-1960; 000,000 each 1961-1981
Of the total amount of bonds to be issued, 31024,000 were authorized at an election
held December 9, 1952, and $5,976,000 were authorized at an election held November 8, 1955•
Proceeds from the sale of these bonds will be used for in_provements, extensions and
additions to the City's Waterworks and Electric Systems.
2,500,000 GE, :.MAL OBIIGATIOI4 BONDS
SHIES
1956 -- to be dated March 1, 1956; denomination
41,000; interest payable Parch 1, 1956,
and
seri-annually thereafter
on March I and SepteiiL er 1;
principal and interest to be payable
at the
First National City Bank
of iiew York, New York, and
the Citizens National Bank, Lubbock,
Texas,
as Co-Payinj Agent; to be
due serially without
option of prior payment and composed
of the
following issu.s:
$100,000 Storm Sewer Bonds
.160,000 Street Lighting Bonds
•440,000 Park Bonds $500,000 Sanitary Sewer Bonds
W'500,000 Waterworks Bonds*
$800,000 Street Bonds
All of the above bonds were authorized at an election held November 8, 1955, and will mature
on Harch 1 as follows:
�100;000" 1g57-1981
Sealed bids, plainly marked "Bid for Bonds" should be addressed to I.:rs. Lavenia Lowe, City Secretary,
City of Lubbock, Texas, and must be in the hands of the City Secretary not later than 10:00 A.31'.,
C.S.T on February 14, 1956. The bonds will be sold in two separate blocks: (1) $7,300,000 ;'tiaterworks
System Revenue Bonds, Series 1956, acid (2) $2,500,000 General Obligation Bonds, Series 1956. The
City covenants that no additional bonds will be sold within six months from the date of this sale.
All bids must be submitted on the "Official Bid Form". Conies of the "Official Totice of Sale '' and
Official Bid Form" may be obtained from I-rs. Lavenia.Lowe, City Secretary, Clty of Lubbock, Texas, or
at the offices of the First Southwe::t Company, 1207 Mercantile Bank Building, Dallas, Texas, Fiscal
Agents for the City.
Bidders are requested to specify the rate or rates of interest the bun ds will bear, but split rate
bids involving more than three coupon rates and a maximum of five coupon changes on any one issue of
bonds will not be considered. Coupon rates must be in multiples of y of 1%. Maximum rate that can be
bid, as set forth in the election orders, is 3-3/4%.
Each bid must be accompanied by a Certified or Cashier's Check on a Texas Bank, payable to the "City
of LuVo ock, Texas", in the amount of 2% of the par value amount of each issue of bonds bid upon. This
check will be considered as a Good Faith Deposit. The checks of the successful bidders will be retained
by the City to assure performance of the cDntract on the part of the successful bidders. In the event
such bidders should fail or refuse to take up and pay for the bonds in accordance with their bids, then
said checks shall be cashed and accepted by the City of Lubbock as full and complete liquidated
damages. Otherwise, said checks will be returned to the successful purchasers upon payment for the
bonds. Checks of unsuccessful bidders will be returned to such bidders after the award is made.
The City will furnish printed bonds on lithooral:hed borders, a complete Transcript of the entire
proceedings had incident to the authorization aid issuance of the bonds, together with the final
unqualified approving legal opinion of Piessrs, Dumas, Huguenin and Boothman, Bond Attorneys, Dallas,
Texas. Any other opinion desired by the purchaser must be obtai:jed and paid for by him.
The bidder :rust agree to accept delivery of and make payment for the bonds at the American i•]ational
Bank, Austin, Texas. It is anticipated that such delivery can be made around IL&.ceh 15, 1956; and if
for any reason the City is unable to make delivery on or before April 15, 1956; then the successful
bidders may accept delivery thereafter at their option,
The City reserves the right to reject any and all bids, and waive any and all irregularities.
LAVEL'IA LOWE
City Secretary
CITY OF LUBBOCK, TEXAS
NO FUMhER BUSINESS COMING UP FOR CON )IDERATION, THE CITY COMKIS3ION ADJOURNED.
READ AND APPROVED TT I`i THE 31st DAY OF January 1956.
NNRP 4 TRI t OR
Laveni owe, City ecret� y-Treasurer