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HomeMy WebLinkAboutMinutes - City Council - Regular - 1/4/1954RECESSED REGULAR MEETING Lubbock, Texas January 4, 1954 The City Commission of the City of Lubbock, Texas, met at 3:30 P.M. in recessed regular session, recessed from regular meeting of December 222 1953, at the regular meeting place in the City Hall, the following members thereof being present to -wit: Mayor Murrell R. Tripp, Commissioners Harry Morris, Hurley Carpenter, L. E. Davis, City Manager Steve Matthews, City Attorney Vaughn E. Wilson, City Secretary -Treasurer Lavenia Lowe. Absent: Commissioner Lucian Thomas. Also present in the meeting were Frank Medanich and J. M. Barker, representatives of the First Southwest Company of Dallas, Texas. $L-12-281-576 Motion by Commissioner Morris, seconded by Commissioner Davis, motion carried, Mayor Tripp and Commissioners Morris, Carpenter and Davis voting Yea, none voting Nay, to auth- orize publication of the following Notice of Sale, on February 9, 1954 of $2,550,000 City of Lubbock, Texas, Bonds as follows: $1,000,000 Waterworks System Revenue Bonds, Series 1954 $1,550,000 General Obligation Bonds, Series 1954. NOTICE OF SALE S2,550.000 CITY OF LUBBOCK TEXAS WATERWORKS SYSTEM REVENUE AND GENERAL OBLIGATION BONDS, SERIES 1954 Selling Tuesday, February 9, 1954, at 2:00 O'clock P. M.., C. S. T. The City Commission of the City of Lubbock, Texas, will receive sealed bids at the City Hall until the 9th DAY OF FEBRUARY, 1954, at 2:00 o'clock P.M., C.S.T., for the following bonds: gl.000,,-QOQ WAt-erworks System Reyenug Bonds eries 1954. To be dated March 1, 1954; denomination $1,000; interest payable December 1, 1954, and semi-annually thereafter on June 1 and December 1; principal and interest to be payable at The National City Bank of New York, New York, New York, and the Citizens National Bank, Lubbock, Texas, as Co -Paying Agent; to be optional in their inverse numerical order on June 1, 1968, or any interest payment date thereafter, at par and accrued interest; maturing $50,000 each June 1, 1955 through June 1, 1974, inclusive. These bonds are the second installment of $4,644,OQO Waterworks System Revenue Bonds, authorized at an election held December 9, 1952. The first installment was in the amount of $2,045,000, dated June 1, 1953. Proceeds from the sale of these bonds will be used exclusively for improvements and additions to the City's Waterworks System. 81,550,000 General Oblicat o ,B21ad§, Series 195L. To be dated March 1, 1954; denomination $1,000; interest payable September 1, 1954, and semi-annually thereafter on March 1 and September 1; principal and interest to be payable at the National City Bank of New York, New York, New York, and the Citizens National Bank, Lubbock, Texas, as Co -Paying Agent to be due serially without option of prior payment; and composed of the following issues: $1,450,000 Auditorium -Coliseum Bonds, Series 1954; These Bonds are the second and final installment of $1,750,000 Bonds authorized at an election held.DeceMber 11, 1945. This issue will mature on March 1 as follows: $60,000 each year 1955 through 1959, inclusive; $80,000 each year 1960 through 1964, inclusive; $75,000 each year 1965 through 1974, inclu- sive, $100,000 Public Library Bonds, Series 1954: These Bon b are the third and final install- ment of $500,000 Bonds authorized at an election held on May 24, 1947. This issue will mature on March 1, as follows: $20,000 each year 1955 through 1959, inclusive. Sealed bids, plainly marked "Bid for Bonds", should be addressed to Mrs. Lavenia Lowe, City Secretary, City of Lubbock, Texas, and must be in the hands of the City Secretary not later than 2:00 o'clock P.M., C.S.T., on February 9, 1954. The bonds will be sold in two separate blocks: (1) $1,000,000 Waterworks System Revenue Bonds, Series 1954; and (2) $1,550,000 General Obligation Bonds, Series 1954. The City covenants that no additional bonds will be sold within six months from the date of this aale. J�11 bids must be submitted on the "Official Bid Form'. Copies of the "Official Notice of Sale" and "Official Bid Form" may be obtained at the offices of the First Southwest Company, Investment Bankers, 1207 Mercantile Bank Building, Dallas,, Texas, Fiscal Agent for the City. Bidders are requsted to specify the rate or rates of interest the bonds 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 1A of 1%. Maximum rates of int ere st than can be bid, as set forth in the election orders, are as follows: Waterworks System Revenue Bonds - 3 3/4%; General Obligation Bonds - 3 1f2%. Each bid must be accompained by a Certified or Cashi errs Check on a Texas Bank, payable to the "City of Lubbock, Texas," in the amount of 2% of the par value amount of each issue of bonds bic�ipon. 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 contract 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 applied on the purchase price of the bonds, or returned to the successful bidders upon payment for the bonds, whichever they desire. Checks of unsuccessful bidders will be returned to such bidders after the award is made. The City will furnish printed bonds on lithographed borders, a complete Transcript of the entire Proceedings had incident.to the authorization and issuance of the bonds, together with the final unqualified approving legal opinion of Messrs. Dumas, Huguenin and Boothman, Bond Attorneys, Dallas, Texas. Any other opinion desired by the purchaser must be ob- tained and paid for by him. The bidder must agree to accept delivery of and make payment for the bonds at the American National Bank, Austin, Texas. It is anticipated that such delivery can be made around April 1, 1954; and if for any reason the Cit3pis unable to make delivery on or before April 15, 1954, 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. LAVENIA LOWE City Secretary City of Lubbock, Texas 4-12-282-577 To the Honorable Mayor and January 8, 1954 City Commission, City Hall, Lubbock,- Texas. - Gentlemen: On November 14, 1945, the City of Lubbock entered into a contract with Crummer & Company, Inc. of Texas, and C. R. Woolsey & Company of Lubbock, and the Central Investment Company of Dallas, Texas, is the successor of Crummer & Company above mentioned, and all rights and responsiblities pertaining to the contract- relting to the sale of various bond issues for the City of Lubbock. It was originally contemplated by this contract that the bonds would be sold within a five year period, and although certain transactions have taken place subsequent to the five year period mentioned in the contract , we would like to be released from any further responsibility under the terms of the contract and request - that your Commission mutually agree with us that the contract be -promptly terminated; and we hereby fully release the City of Lubbock from any liability whatsoever in connection therewith so that the City will be under no obligation to the original contracting parties or this company upon the City's passing its resolution agreeing to mutually abandon this contract. CENTRAL INVESTMENT COMPANY Carpenter OF TEXAS Motion by Commissioner seconded by Commissioner Davis , motion carried, Mayor Tripp and Commissioners BY f sf P,, T. Rodgers Morris, Carpenter and Davis voting Yea, none voting Nay, Partner the following Resolution was passed. R E S O L U T I O N WHEREAS, Central Investment Company of Texas has heretofore requested, and by its letter dated January 8, 1954 confirmed its previous request to mutually abandon a contract made November 14, 1945 between the City of Lubbock and Crummer & Company, Inc. of Texas, C. R. Woolsey & Company of Lubbock, and the Central Investment Company of Dallas, Texas is the successor to the original contracting parties as shown by its letter above mentioned, dated January 8, 1954; and, WHEEEAS, it was originally contemplated by all parties that the bonds would be sold within a five-year period, which has expired, and all parties interested therein are mutually agreeable to fully releasing the contracting parties as shown by the letter dated January 8, 1954 and the previous request of Central Investment Company of Texas; THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK: THAT, the request of Central Investment Company of Texas, dated January 8, 1954 con- firming the previous oral request to abandon the- contract dated November 14, 1945 and be- tween the City of Lubbock and Crummer & Company, Inc. of Texas and C. R. Woolsey & Company of Lubbock, be and the same is hereby accepted and all parties are fully released from further compliance with the terms of said contract and from any and all liability in connection therewith. The City Secretary is directed to send a copy of this Resolution to Central Investment Company of Texas, �4-12-.283-578 On motion of Commissioner Carpenter, seconded by Commissioner Davis, this Resolution was passed by the City Commission on this the 4th day of January, 1954, by the following vot e : Commissioners voting "YEA": Morris, Carpenter, Davis and Mayor Tripp Commissioners voting "NAY": None /s/ Murrell R. Tripp_ MURRELL R. TRIPP, Mayor ok:VEW ATTEST: Z§Z Lavenia Lowe Lavenia Lowe, City Secretary -Treasurer VEW:rr 1-11-54 Honorable Mayor and City Commission January 4, 1954 City of Lubbock Lubbock, 'texas Gentlemen: Reference is hereby made to a contract dated November 7, 1952, between the City cf Lubbock, Texas, and First Southwest Company, wherein First Southwest Company agreed to do certain things in connection with the sale and issuance of certain bonds. . The contract referred to above does not include $1,450,000 Auditorium -Coliseum Bonds and $100,000 Public Library Bonds. Howe ev r, we hereby agreeto extend the contract dated November 7, 1952, to cover the Auditorium -Coliseum and Public Library Bonds and do any and all things required of us under the contract dated November 7, 1952. Very truly yours, FIRST SOUTHWEST COPTANY Byes, J. Pie�ianic h _ ., .-- FJM:avd Authorized Representative Motion by Commissioner Davis, seconded by Commissioner Morris, motion carried, Mayor Tripp and Commissioners Morris, Carpenter and Davis voting Yea, none voting Nay, the following Resolution was passed. R E S 0 L U T I 0 N WHEREAS, at a special meeting of the City Commission on January 4, 1954 the First Southwest Company of Dallas, Texas, and represented by Mr. Frank J. Medanich, appeared be- fore the City Commission to discuss the sale of certain bonds: One Million Four Hundred Fifty Thousand and No/100 ($1,450,000) Dollars Auditorium -Coliseum Bonds, One Hundred Thousand and No/100 ($100,000) Dollars Public Library Bonds, and One Million and No/100 ($1,000,000) Dollars Waterworks Revenue Bonds; and submitted schedules covering the sale of all of these bonds, the sale to be made on February 9, 1954; and, WHEREAS, the City is under contract, dated November 7, 1952, with the First Southwest Company to handle the sale of certain bonds for the City of Lubbock, and the First South- west Company has proposed to handle the sale of the $100,000 Library Bonds and the $1,450,000 Auditorium -Coliseum Bonds under the same terms and conditions set out in the proposal sub- mitted to the Commission on November 7, 1952, which was accepted by the City Commission, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK: THAT the proposal of First Southwest Company of Dallas, Texas to extend its contract as set out in the preamble to this resolution so that the terms and provisions of the proposal made November 7, 1952, will extend to and include the Auditcriiam-Goli.seum Bonds and the Library Bonds BE, and the same is hereby accepted; and the First Southwest Company is auth- orized and requested to proceed with the preparation of the notice of sale of the bonds, said sale to be set for February 9, 1954. AND IT IS SO ORDERED. On motion of Commissioner Davis, seconded by Commissioner Morris, this Resolution was passed on this the 4th day of January, 1954, by the following vote: Commissioners voting "YEA": Morris, Carpenter, Davis and Mayor Tripp Commissioners voting "NAY": None /s/ Murree R Troop ATTEST: MURRELL R. TRIPP, Mayor ok:VEW /s/ Lavenia Lowe Lavenia, Lowe, City Secretary -Treasurer VEW:sv 1-5-54 4-12-2g4-579 Motion by Commissioner Carpenter, seconded by Commissioner Davis, motion carried, Mayor �. Tripp and Commissioners Morris, Carpenter and Davis voting Yea, none voting Nay, to authorize the National City Bank of New York and the Citizens National Bank of Lubbock, Texas, to be designated as co -paying agents in connection with the sale of bonds to be held February 9, 1954, custodian bank for monthly deposits to be the Citizens National Bank of Lubbock, Texas, k42-284-580 The following report was given to the City Commission. January 2, 1954 TO Steve Matthews FROM: Lynn H. Andrews SUBJECT; Curb Parking Survey A preliminary survey made by the Traffic Engineering Department of curb parking within the downtown business district and adjacent streets has been completed. This survey revealed that approximately 27 additional parking spaces can be provided by: 1. Changing present policies as to parking space lengths. (Using a minimum of 18 feet for end spaces and 22 feet for inside spaces. 2. Allow parking closer to interesection crosswalks where such a change will not materially increase accident hazards and will provide an additional parking space. 3. <The elimination or reduction in size of those curb loading (yellow curb areas) zones that are no longer needed or the present length not justified. 4. Replacement of curb at those locations where the original use for driveway openings have been discontinued. Due to the fact that some of the changes will not comply with present ordinances and all changes will necessarily be studied for accident experience and practicability, we request that the City Commission grant permission to Traffic Engineer to make changes consistent with the findings of the pleminary survey where, in his judgment, additional parking spaces can be provided without undue hazards being created and the public good can best be served. After the experience records of the changes are evaluated, we will then be in a position to make recommendations to the Commission for certain amendments to our ordinances and policies. After consideration of the above report regarding additiorwParking spaces to be provided in the downtown areas, motion was made by Commissioner Davis, seconded by Commissioner Carpenter, motion carried, Mayor Tripp and Commissioners Morris, Carpenter and Davis voting -Yea, none voting Nay to authorize the City Traffic Engineer to make changes con- sistent with the findings of the preliminary traffic survey, where, in his judgment, additional parking spaces can be provided without undue hazards being created and the public good can best be served. •12..284••581 't -County Welfare Policy Committee by Resolution dated December 17; 1953, record City Comma 'nutes at Page 275, Minute Book 12, requested the City and om- missions to uphold a ue the present City -County Welfare with the ,-Page 285 for Salvation Army until a report o th and Welfa ey is received. On this date, s item. January 4, 1954, it was brought to the att the City Commission that the City�s portion o.4he cost of making sa' are survey is $2 motion was made by Com- missioner Morris, sec y Commissioner Carpenter, motion carrie , Tripp and Commissio rris, Carpenter and Davis voting Yea, none voting Nay, to autho ent of said $289.75, }� 5L-12••285-581 The City -County Welfare Policy Committee by Resolution dated December 17, 1953, recorded in City Commission Minutes at Page 275, Minute Book 12, requested the City and County Commissions to uphold and continue the present City -County Welfare contract with the Salvation Army until a report of the Health and Welfare survey is received. On this date January 4, 1954, it was brought to the attention of the City Commission that Mr. T. L. Sunder of San Antonio, Texas, made a trip to Lubbock for a consultation with the Steering Committee of the City -County Welfare Association, and that the following letter has been received from Mr. Swander. December 21, 1953 Mr . Charles.E. Maedgen, Jr. Lubbock Survey Committee Lubbock National Bank Lubbock, Texas Dear Mr. Maedgen: ` In line with our conversation on the 17th,let me report the following expenses incurred on my recent trip to Lubbock. - Round trip air passage San Antonio to Lubbock 64.75 Per diem fee for consultation December 15-17 3 P ? 5 225.00 $289.75 In accordance with my letter of October 27, my living costs in Lubbock are included in the per diem fee. It was a pleasure working with you aqd your associates. In the near future I shall let you hear from me regarding proposed staff and estimated costs for the survey. TLS/hw Sincerely, lel T. L. Swander .-- T. L. Swander After discussion of payment of the $289.75, as set out in the above letter, motion was made by Commissioner Morris, seconded by Commissioner Carpenter, motion carried$ Mayor Tripp and Commissioners Morris, Carpenter and Davis voting Yea, none voting Nay, to authorize payment of the $289.75 to Mr. T. L. Swander in the event the Lubbock Community Chest and the County Commission of the County of Lubbock will each agree to reimburse the City of Lubbock for their 1/3 of thi*expense. The expense to be shared equally be- tween the Community Chest, City of Lubbock and the County of Lubbock. No further business coming up for consideration, the City Commission adjourned. Read and approved, this the 28th day of January , 1954. tavWhia Lowe, ty Secretary -Treasurer