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HomeMy WebLinkAboutMinutes - City Council - Regular - 2/9/1954;CESSED REGULAR MEETING Lubbock, Texas February 9, 1954 e City Commission of the City of Lubbock, Texas, met at 2:00 P.M. in Recessed Regular Session, recessed from Regular Meeting of January 28, 1954, 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, Lucian Thomas, City Manager Steve Matthews, City Attorney Vaughn E. ,•:ilson, City Secretary - Treasurer Lavenia Lowe. Absent : None 54-12-339-659 On Janue.ry.4, 1954,.tbe.City Commission authorized sale of $1,000,000.00 Waterworks System Revenue Bonds, Series 1954, and $1,550,000.00 General Obligation Bonds, Series 1954, Notice of Sale being of record at Page 281 and 282, Minute Book 12. Bids for said bonds to be received February 9, 1954 at 2:00 P.M. In accordance with said Notice of Sale, motion was made by. Commissioner.Carpenter,.second ed.by Commissioner Davis, motion carried, Mayor Tripp and Commissioners Morris, Carpenter, Davis and Thomas voting Yea, none voting Nay, that the bids on bonds be opened and read, whereupon the following bids were opened and read: February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Offidal Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEM REVENUE BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Not ice, we will pay you par and accrued interest from date of issue to date of delivery to .us,, plus a cash premium of $ for bonds bearing interest as follows: June 1, 1955, through June 1, 1959.................. 3 1/4 June 1, 1960, through June 1, 1967.................. 2 June 1, 1968, through June 1, 1974.................. 2 IZ4 % June 1, 19_, through June 1, 19........... ........ % Interest cost, in accordance with the above bid, is: Gross Interest Cost ............... 0.................s 2400250.00 �- Less Premium ................... 0....................8 NET INTEREST COST...................................8 2401,250,00 EFFECTIVEINTEREST RATE ............................. 2.23488 Attached hereto is Cashier's -Certified Check of the Mercantile National Bank, Dallas, Texas, in the amount of $20,000.00, which represents our rood Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, First Southwest Co. J. C. Bradford & Co. Burns, Corbett.&.Pickard.-.-. Rotan, Mosle & Cooper Thomas & Co. By Isl Frank J. Medanich Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $11000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEM REVENUE BONDS, SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par an0accrued interest from date of issue to date of delivery to us, plus a cash premium of $ 350.00 for bonds bearing interest as follows: June 1, 1955, through June 1, 1961..................... % June 1, 1962, through June 1, 1969..................... 2 1 /4 June 1, 1970, through June 1, 1974..................... 21/2 _% Interest cost, in accordance with the above bid, is: Gross Interest Cost.................................0009 257,000.00__ Less Premium ................................. 0......... NET INTEREST COST ...................................... 256,65o.00 EFFECTIVEINTEREST RATE ................................ 2.3V4 % Attached hereto is Cashier's -Certified Check of the First National Bank, Dallas, Texas, in the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, Equitable Securities Corp. Hirsch & Co. Braun, Bosworth & Co. Lucas, Eisen & Wackerle Sheason-Hammill & Co. Allison -Williams & Co. Keith Reed & Co. By /sl J. W. Mar j n Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock ,Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEM REVENUE BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $520.00 for bonds bearing interest as follows: June 1, 1955, through June 1, 1960...................... . 1.31A June 1, 1961, through June 1, 1971..................... 2 1f1 June 1, 1972, through June 1, 1974..................••• 2 1/2 Interest cost, in accordance with the above bid, is: Gross Interest Cost ..................................... 26.ET 1,.68_75 Less Premium.............................0............. 520.00 NETINTEREST COST ...................................... 242j948_.75 -.- EFFECTIVEINTEREST RATE ..................... ...... ..... 2,599$8 Attached hereto is Cashier's -Certified Check of the Lubbock National Bank, Lubbock, Texas, in the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the"Official Notice of Sale". Respectfully submitted, Shields & Company Blair, Rollins & Co., Inc. Francis I. DuPont & Co. American Securities Corp. Bache & Company Rand & Company Stranahan, Harris & Co. Harrington & Company R. A. Underwood & Co.,Inc. Murray W. Moore & Co. Moroney, Beissner & Co. Mullaney, Wells & Company Raffensperger,Hughes & Co.,Inc. Seasongood & Mayer Herbert J. Sims & Co., Inc. By LV &ck Morr.,s Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEi�i REVENUE BONDS, SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $135.00 for bonds bearing interest as follows: June 1, 1955,•through June 1, 1960.................. 2 1/2 _ June if 1961,through June 1, 1969.................. 2 1/4 June 1, 1970, through June 1, 1974.................. 2 1f2 Interest cost, in accordance with the above bid, is: Gross Interest.Cost..:....:.::.....:...............atX 2560093,75 5 Less Premium.... ................ 0...................OY 135.00 NET -INTEREST COST ...................................$ 255,958.75 EFFECTIVEINTEREST RATE ............................. 2,3810 % Attached hereto is Cashier's -Certified Check of the Lubbock National Bank, Lubbock, Texas, in the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, -Halsey., Stuart & Co. Inc. Lehman Brothers Paine, :•Iebber, Jackson & Curtis R. S. Dickson & Company, Inc. McMaster, Hutchinson & Co. Honorable Mayor and City of Lubbock Lubbock, Texas Gentlemen: City Commission Barret-, Fitch, North & Co. Piper, Jaffray & Hopwood R. J. Edwards, Inc. F. S.-Yantis & Co, Inc. By fs/ J.D. E. Walton Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEM: REVENUE BONDS, SERIES 1954, which is attached here- to .and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $125.00 for bonds bearing interest as follows: June 1, 1955, through June 1, 1966.................. 2 June 1, 1967, through June 1, 1970................... 21& June 1, 1971, through June 1, 1974...... �........... 2 1�2 Interest cost y in accordance- with the above bid, is: Gross Interest Cost..... ............................6Il 2h10125.00 Less Premium .................. 0....................68 125.00 NET INTEREST COST.... ...................... 241-00-00,QQ EFFECTIVE -INTEREST RATE......... ... 2 86 Attached -hereto is Cashier's Check of the American National Bank, Austin, Texas, in the amount of $20,0001,00, which represents our Good Faith Deposit, and .,hich is submitted in accordance with the terms as set forth in the "Official Notice of Sale." Respectfully submitted, Lenitz, Newton & Co. (Co -Mgr.) Baxter, Williams & Co.(Co-Mgr.) Dwinnell, Harkness & Hill, Inc. Allan Blair & Co. Hudson, Stayart & Co., Inc. James C. Tucker & Co., Inc. Russ &- Co: , Inc. Eppler, Guerin & Turner By1Lg Dion R._ i_Qlg,- Jr.*___ Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEKi REVENUE BONDS, SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, as described in*said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $25.00 for bonds bearing interest as follows: June 1, 1955, through June 1, 1964................ 2 __. __% June 1, 1965, through June 1, 1969................ 2 1/� % June_!, 1970,.thrQug h June 1, 1974........... 2 1/2 Interest cost, in accordance with the above bid, is: Gross Interest Cost...............................S 2401p625.00_ __ Less Premium..............•.••••••.•,•.••••••.••••.••••• 25-QCL______ NET INTEREST COST... o ... o ........... .... 6 0 EFFECTIVE INTEREST RATE ........... s ............. • • 2 2911�28 Attached hereto is Cashier's -Certified Check of the First National Bank, Amarillo, Texas, in the amount of $20,000.00 which represents our Good Faith Deposit, and which is submitted in accordance with the terms a5 set forth in the "Official Notice of Sale". Respectfully submitted, Merrill Lynch, Pierce, W. B. Blair & Co. Dittmar & Co. T. Marvin Moreland W. N. Edwards & Co. Fenner & Beane Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Dallas, Texas Chicago, Ill. Dallas, Texas Galveston, Texas Ft. Worth, Texas MERRIILL LYNCH, PIERCE, FENNER AND BEAD By /s/ Ne Walker __ Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS 4ATERWORKS SYSTEM REVENUE BONDS, SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, as described in said Notice, we Will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $230.00 for bonds bearing interest, as_ follows: June 1, 1955� through June 1, 1962................ 1 3/4 June 1, 1963, through June 1, 1969..............•. 2 1/2 June 1, 1970.. through June 1, 1974................E L Interest cost, in accordance kith the above bid, is: Gross Interest Copt••••..•...•••••• ................. 9 2— 6—_5 9Q6.25 Less Premium ......................................$ 230.00 NETINTEREST COST.................................`"5 265.676.25 EFFECTIVE INTEREST RATE ........................... 2,01406.____.-- % Attached hereto is Cashier's -Certified Check of the Citizens National Bank, Lubbock, Texas, in,the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." Respectfully submitted, B. J. Van Ingen & Co. Inc. Stern Brothers & Co. Rowles, Winston & Co. Ball, Burge & Kraus Lyons & Chafto, Inc. Nongard & Company, Inc. Pohl & Company, Inc. Weil, Roth & Irving Co. Robert Showers H. L. Shaffer & Company Chicago, Ill. Kansas City, Mo. Houston, Texas Cleveland, Ohio Boston, Mass. Chicago, Ill New York, N.Y. Cincinnati, Ohio Chicago, Ill, Amarillo, Texas By Lf H. L. Shaffer Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,000,000 CITY OF LUBBOCK, TEXAS WATERWORKS SYSTEM REVENUE BOND8 SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $390.00 for bonds bearing interest as follows: June 1, 1955,through June 1, 1959@*....... 2 1/2 June 1, 196d,_through June 1, 1963................... 2 June 1, 1964, through June 1, 1971................... 2 4 June 1, 1972, through June 1, 1974..................2_,[2 Interesi'oost, in accordance with the above bid, is; Gross Interest Cost......... .......................9 2k 250.00 Less Premium.........................................8 390.00 NETINTEREST COST....................................9 24 ,860.00 EFFECTIVE INTEREST RATE .............................. 2.2964 Attached hereto is Cashier's -Certified Check of the Citizens National Bank, Lubbock, Texas, in the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, John Nuveen & Co., Chicago, Ill. Columbian Securities Corp. A. C. Allyn & Company of Texas San Antonio Wm. J. Mericka & Co. Ltd. Barcus, Kindred & Company Rodman & Linn First of Michigan Corp. McCormick & Company Zahner & Company By z Bob L. Davis __�_ Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to ,your "Official Notice of Sale," dated January 20, 1954, $11000,000 CITY OF LUBBOCK, 'TEXAS WATERWORKS SYSTEM REVENUE BONDS, SERIES 1954, which is attached here- to and made a part hereof. For your legally issued bonds, s des ribed in said Notice, we will pay you par and accrued interest from date of issue to� �v� y to us, plus a cash premium of $245.00 for bonds bearing interest 'as follows: ................... June 1, 1955, through June 1, 1957................. 3 3/4 % June 1, 1958, through June 1, 1970................. 2 June 1, 1971, through June 1, 1974................. 2 1 .� Interest cost, in accordance with the above bid, Gross Interest Cost................................8 2300281.25 Less Premium ....................................... '245.00 NET INTEREST COST..................................3 230,036.25 EFFECTIVE INTEREST RATE ............................ 2.1398 � Attached hereto is Cashier's Check of the Lubbock National Bank, Lubbock, Texas, in the amount of $20,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." Respectfully submitted, Phelps, Fenn & Company R. W. Pressprich & Company Eastman,Dillon Company Bacon, Stevenson ACCEPTANCE CLAUSE Rauscher, Pierce & Company Dallas Rupe Roosevelt & Cross William & Pollock By /s/ Ernest E. Dic}oy Authorized Representative The above and foregoing bid is hereby in all things accepted by the City of Lubbock, Texas, this the 9th day of February, 1954. ATTEST: /s / Lavenia Secretary, City of Lubbock, Texas Mayor, City of Lubbock, Texas February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in'said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $136.40 for bonds bearing interest as follows: March 1, 1955, through March 1, 1959................... 3 1/4 r ___ % March 1, 1960, through March 1, 1968......... 0......... 2 -March-1,-1969-through March 1, 1974.............. ••••• Interest cost; -in -accordance with -the above bid, is: Gross Interest Cost ....... ........................... .'.y9355.1g7.50_ Less Premium.,,.,,........ ............ 0.— ...... 0......tlV 136.k NET INTEREST COST... ................................. 355,051.10 EFFECTIVE INTEREST RATE ..::::::::...................... 2.2156 Attached hereto is Cashier s-Certified-Check�of the Mercantile National Bank, Dallas, Texas, in the amount of $31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." Respectfully submitted, The National City Bank, New York Dittmar & Co. Thomas & Co. Underwood Neuhaus & Co. Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gent lemen: Rotan Mosle & Cooper First Southwest Co. Merrill, Lynch, Pierce, Fenner & Bean By ILL Frank J ,3edanich Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954. of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLICATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from, date ofissue to date of delivery to us, plus a cash premium of $697.50 for bonds bearing interest as follows: ' March 1, 1955, through March 1, 1957......... •••••••••• 3 1/2 March 1, 1958, through March 1, 1966................... _ 2 March 1, 1967, through March 1, 1974..................0 2 1f4 / Interest cost',' iri atccorciahc-e with the above bid, is: Grb'Vs Ihte a st' Gost.................................... � 521; 450. 0 Less Premium...........................................9 697- NETINTEREST COST ......................................$ 351.752.50 EFFECTIVEINTEREST RATE ................................ 2.19502 % Attached hereto is Cash'er'"s- Check o ' thu L}}33�,b,b,,,�1 ftVonal 1Bank.Lubbock., Texas, in the amount of $31,DOO.00,1 a84 rl9psE39RHA Tn`"��`cor�ince w FRline rms as set forth in the "Official Notice of Sale". RespectfuAly submitted, Phelps, Fenn & Company R. W. Pressprich & Company Eastman, Dillon Company Bacon, Stevenson Rauscher, Pierce & Company Dallas Rupe Roosevelt & Cross William E. Pollock By /aL Ernest Z. Dickey Authorized Representative February 9, 1954 Honorable Mayor and City of Lubbock Lubbock, Texas Gentlemen: City Commission Reference is made to your "Official Notice of Sale," dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GFANERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $682.00 for bonds bearing interest as follows: March 1,-1955, through March 1, 1960..................a 1 3/4 March 1, 1961, through March 1, 1971..................0 2 l/4 % March 1, 1972� through March 1, 1974............ R...... 2 1/2 Interest -cost, in accordance -with -the -above bid, is: Gross Interest Cost .............. :..................... 3 362.850.00 Less Premium ........................ I ..................S 682 .00 NET INTEREST COST....................................9 3623168.00 EFFECTIVE INTEREST RATE ............................... 2,260018 % Attached hereto is Cashier's Certified Check of the Lubbock National Bank, Lubbock, Texas in the amount of $31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the If Official Notice of Sale". Respectfully submitted, Shields & Company Blair, Rollins & Co., Inc. Francis.I. Dupont & Co. Bache & Company Rand & Company Harrington & Company Murray W. Moore & Co. Mullaney, Wells & Company Honorable Mayor City of Lubbock Lubbock, Texas Gentlemen: and City Commission Raffensperger,-Hughes & Co. Inc. Seasongood & Mayer American Securities Corp. Herbert J, Sims & Co. Inc. Stranahan, Harris & Co. R. A. Underwood & Co, Inc. Moroney, Beissner & Co. By_44L Jack orr,i_*__ _ _ . __ _ Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,55 ,,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your -1-egal•1-y -issued bonds, as described in said Notice we will pay you par and accrued interest from -date -of -issue to date of delivery to us, plus a cash pranium of $1520.86 for bonds bearing interest e:s -follows.- March 1, 1955, through March 1, 1962.................. 1 % March 1, 1963, through March 1, 1970................... 2 1 2 March 1, 1971, through March 1, 1974................... 2 % March 1, .119_, through Msrc-h 1, 19_................... % Interest cost, in accordance with the above bid, is: .Gross Interest Cost .................................... 3W_ 900.00 Less Premium... ...................................... 1,520,86� NET INTEREST COST ................................ 391,379.1k EFFECTIVE INTEREST RATE ............................... 30 % Attached hereto is Cashier's -Certified Check of the Citizens National Bank, Lubbock, Texas, in the amount of $31,000.00, which represents Our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, B. J. Van Ingen & Co., Inc., Chicago Rowles, Winston & Co., Houston Lyons & Shafto, Inc., Boston Pohl & Company, Inc., New York The Weil, Roth & Irving Co., Cincinnati Robert Showers, Chicago Stern Brothers & Co., Kansas City Ball, Burge & Kraus, Cleveland Nongard & Company, Inc., Chicago Provident Trust & Savings Bank, Cincinnati H. L. Shaffer & Company, Amarillo By J. / H. L. Sh�f�e� _ Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of 01,406.00 for bonds bearing interest as follows: March 1, 1955, through March 1, 1971................... 2 1 % March 1,_1972, through March 1, 1974................... 2 Interest.in. accordance with the above bid, is: Gross Interest Cost ..... ........................... ....S 3710250.00 Less Premium.... ....................................... Z 06.00 NETINTEREST COST ............... ...................... 8 00 Ii Cfi �I�fiEREST RATE ................................ 2.3079 % Attached hereto is Cashier's Certified.Check of the Lubbock National Bank, Lubbock, Texas, in the amount of $31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale." Respectfully submitted, Halsey, Stuart & Co, Inc. Lehman Brothers F. S. Yantis & Co., Incorporated McMaster, Hutchinson & Co. R. S. Dickson & Company, Inc. Barret, Fitch, North & Co. Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Piper, Jaffray & Hopwood R. J. Edwards, Inc. Paine, Webber, Jackson and Curtis The Fort Worth National Bank By / D. E. Walton Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $790.50 for bonds bearing interest as follows: March 1, 1955, through March 1, 1959••.6•.............. 2 1& March 1, 1960, through March 1, 1964................... 2 March 1, 1965, through March 1, 1969................... 2 1 March 1, 1970, through March 1, 1974.... 0000.06.... •••• 2 1 2 Interest cost, in accordance with the above bid, is: Gross Interest Cost...................................A 3690,1t37.50 Less Premium........ ................................... 790-50 NETINTEREST COST......................................8 368,647.00 EFFECTIVE INTEREST RATE ................................ 2.30044 % Attached hereto is Cashier's Certified Check of. the First National Bank, Dallas, Texas, in the amount of $31,OOQ.,QO, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale% Respectfully submitted, Equitable Securities Corp. Hirsch & Co. Braun, Brosworth & Co. Shearson, Hammill & Co. Keith Reed & Co. City National Bank & Trust Company Lucas, Eisen & Wackerle Allison Williams & Co. By L J,, W. Martin - Au horized Representative February 9, 1954 s Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gent lemen : Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIFS 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $125.00 for bonds bearing interest as follows: March l,'j9.55, through March 1, 1966................ 2 % March 1, 1967, through March 1, 1970................ 2 1 4 _ -- % March.1,1971,.through March 1, 1974................ 2 1 2 Interest cost, in accordance with the above bid, is: Gross. Intereat, .Cost...................................... ...... 125.00 Less .Premium..................-............... . . .. . . . .... NET, INTEREST COST................... ................. 0 OQ__ EFFECTIVE INTEREST RATE...... ....................... 2,24024 Attached hereto is Cashier's Check of the American National Bank, Austin, Texas, in the amount of $31,000.00, which represents our Good Faith Deposit, and fch is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, Lenitz, Newton & Co. (Co -Mgr.) Baxter, Williams & Co.(Co-Mgr.) Russ & Co.., Inc. Southwestern Securities Co. Honorable Mayor and City of Lubbock Lubbock., Texas Gentlemen: City Commission Hudson, Stayart & Co. Inc. James C. Tucker & Co, Inc. Eppler, Guerin & Turner Allan Blair & Co. By /s/ Dion R. Holm, Jr. Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $451.00 for bonds bearing interest as follows: March 1, 1955, through March 1, 1964.......0.1...... 2 _--- March 1, 1965,.through March 1, 1970................ 2 144. March-1,.1971,•through March 1, 1974....... ...... ... 2 Interest cost, in accordance with the above bid, is: Gross Interest Cost ... ......0....................... 67 237. 0 Less Premium ........................................ 451,00 NET.INTEREST COST...................................3 3 6 8 50 EFFECTIVE INTEREST RATE ............................. 2.28M Attached hereto is Cashier's Check of the Citizens National Bank of Lubbock, Texas, in the amount of t31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, Harriman Ripley & Co., Inc. Dlyth & Co., Inc. Hornblower & Weeks First of -Texas Corp. J. A. Overton & Co. J. M. Dain & Company Kenowner, MacArthur & Co. McClung & Knickerbocker hkRRIMAN RIPLEY & CO. INC. BY ZsL Wa»y T N Pi -D ut. Authorized Representative February 9, 1954 Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $20.15 for bonds bearing interest as follows: March 1, 1955, through March 1, 195 8......0....... 2 1/2 March 1, 1959, through March 1, 1961.......0...... 2 % March 1,.1962,.through March 1, 1969.............. 2 1 % March 1, .1970, .through March 1, 1974............... 2 1 2 � Interest cost, in accordance with the above bid, is: Gross Interest, .Cost, ............. ................... 7 g 7. 0 Less Premium.......«...-.- .15 NET INTEREST COST--- ......... _,...............S 3750817.35 EFFECTIVE INTEREST RATE .......................... 2.345 Attached hereto is a Cashier's -Certified Check of the Citizens National Bank, Lubbock, Texas, in the amount of $31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, John Nuveen & Company, Chicago, Ill. A. C. Allyn & Company Wm. J. Mericka & Co. Ltd. Rodman & Linn McCormick & Company Honorable Mayor and City Commission City of Lubbock Lubbock, Texas Gentlemen: Columbian Securities Corp. of Texas San Ant6nio Barcus, Kindred & Co. First of Michigan Corporation Zahner & Company By_ Is/ Bo 1, Davis Authorized Representative February 9, 1954 Reference is made to your "Official Notice of Sale", dated January 20, 1954, of $1,550,000 CITY OF LUBBOCK, TEXAS GENERAL OBLIGATION BONDS, SERIES 1954, which is attached hereto and made a part hereof. For your legally issued bonds, as described in said Notice, we will pay you par and accrued interest from date of issue to date of delivery to us, plus a cash premium of $1,012.46 for bonds bearing interest as follows: March 1, 1955,.through March 1, 1961.............. 2 % March 1,.1962, through March 1, 1964.............. 1 A ftrch 1,-1965,.through March 1, 1969 ......... 00.9. 2 March 1, 1970, through March 1, 1974............. • 2 1 /A - - ----� Interest cost, in accordance with the above bid, is: Gross Interest Cost...............................9 331.975.00 Less Premium......... 0............................ 1,012.46 NJ,T INTEREST COST.................................S 330.962.54 EFFECTIVE INTEREST RATE ........................... 2.0652 Attached hereto is Cashier's -Certified Check of the Republic National Bank, Dallas, Texas, in the amount of $31,000.00, which represents our Good Faith Deposit, and which is submitted in accordance with the terms as set forth in the "Official Notice of Sale". Respectfully submitted, Mercantile Trust Company, St. Louis, Mo. First National Bgnk, Dallas, Texas Dallas Union Securities Company, Dallas, Texas ACCEPTANCE CLAUSE Republic National Bank, Dallas, Eddleman-Pollock Co., Houston,Tex. E. F. Hutton & Co., New York and Dallas By_s / Lockett She m __ . Authorized Representative The above and foregoing bis is hereby in all things accepted by the City of Lubbock,/this the 9th day of February, 1954. _/,Sr,/ M=el l R. Tripp Mayor, City of Lubbock, Texas ATTEST: /s/ Lavenia Lowe Secretary, City of Lubbock, Texas After consideration of all bids, motion was made by Commissioner Morris, seconded by Commissioner Davis, motion carried, Mayor Tripp and Commissioners Morris, Carpenter, Davis and Thomas voting Yea, none voting Nay, to authorize acceptance of the bid of: Phelps, Fenn & Company R. W. Pressprick & Co. Eastman, Dillon Company Roosevelt & Cross Bacon, Stevenson William & Pollock . Rauscher, Pierce & Company Dallas Rupe for purchase of the $1,OOp,000 City of Lubbock Waterworks System Revenue Bonds, Series 1954, effective interest rate in their bid being 2.1398%; and the bid of: Mercantile Trust St. Louis, Mo. Republic National Bank Dallas, Texas First National Bank Dallas, Texas Eddleman-Pollock Company Houston, Texas Dallas Union Securities Co. Dallas, Texas E. F. Hutton & Company New York & Dallas for purchase of the $1,550,000 City of Lubbock, Texas, General Obligation Bonds, Series 1954, effective interest rate on this bid being 2.0652%. 54-1L-349-660 THE STATE OF TEXAS CITY OF LUBBOCK COUNTY OF LUBBOCK ON THIS, the 9th day of February, 1954, the City Commission of the City of Lubbock, Texas, convened in Special session, at the regular meeting place thereof in the City Hall, with all members thereof being present and in attendance, to -wit: MURRELL R. TRIPP, M4YOR, Presiding; HURLEY CARPENTER ) HARRY MORRIS ) CONRUSSIONERS, LUCIAN THOMAS L. E. DAVIS ) and MRS. LAVENIA LOWE, CITY SECRETARY, also being present; constituting a quorum, at which time the following, among other busi- ness, was transacted, to -wit: Commissioner Morris presented for the consideration of the City Commission an ordi- nance authorizing the issuance of "CITY OF LUBBOCK, TEXAS, PUBLIC BUILDING AUDITORIUM - COLISEUM BONDS, SERIES 195411, dated March 1, 1954, in the principal sum of $1,450,000 (being the second and final parcel or installment of a total voted authorization of $1,750,000 bonds). The ordinance was read in full by the City Secretary. Thereupon, Commissioner Davis, moved that the rule requiring that no ordinance shall be passed on the day on which it is introduced be suspended, and that in view of the emergency set forth and defined in the preamble to the proposed ordinance, that the same be declared an emergency measure. This motion was duly seconded by Commissioner Carpenter. The motion carried by the following vote: AYES: Mayor Tripp and Commissioners Carpenter, Morris, Thomas and Davis. NOES: None. Thereupon, Commissioner Thomas moved that the ordinance as read in full by the City Secretary be finally passed and adopted by the Commission. This motion was seconded by Commissioner Carpenter, and the motion, carrying with it the final passage and adoption of the ordinance, was unanimously carried by the following vote: AYES: Mayor Tripp and Commissioners Carpenter, Morris, Thomas and Davis. NOES: None. Thereupon, the Mayor announced that the ordinance had been finally passed and adopted by unanimous vote of the Commission, in accordance with the requirements of Sectionsl5, 16 and 17, of Article IX of the Lubbock Charter; and the Mayor thereupon signed and approved the ordinance in the presence of the Commission. The ORDINANCE is as follows: NO. 1524 114N ORDINANCE by the City Commission of the City of Lubbock, Texas, authorizing the issuance of bonds in the principal sum of $1,450,000 (Being the second and final parcel or installment of a total voted authorization of $1,750,000 bonds), for the purpose of the construction, erection and equipment of a public building and auditorium to be known as the Lubbock Auditorium -Coliseum, and purchasing a site therefor; prescribing the form of the bonds and the form of interest coupons; levying a continuing direct annual ad valorem tax on all taxable property within the limits of said City to pay the interest on said bonds and to create a sinking fund for the redemption thereof, and providing for the assessment and 54-12-350-66_, collection of such taxes; enacting the provisions incident and relating to the purpose and subject of this ordinance; and declaring an emergency." THE STATE OF TEXAS CITY OF LUBBOCK �( COUNTY OF LUBBOCK ON THIS, the 9th day of February, 1954, the City Commission of the City of Lubbock, Texas, convened in special session, at the regular meeting place thereof in the City Hall, with all members thereof being present and in attendance, to -wit: MURRELL R. TRIPP, HURLEY CARPENTER ) HARRY IXORRIS ) LUCIAN THONAS ) L. E. DAVIS ) and MKS. LAVENIA LOWE, MAYOR, Presiding; COMMISSIONERS, CITY SECRETARY, also being present; constituting a quorum, at which time the following, among other business, was transacted,, to -wit: Commissioner Morris presented for the consideration of the City Commission an ordinance authorizing the issuance of "CITY OF LUBBOCK, TEXAS, PUBLIC LIBRARY BONDS, SERIES 195411, dated March 1, 1954, in the principal sum of $100,000 (being the third and final parcel or installment of a total voted authorization of $500,000 bonds), The ordinance was read in full by the City Secretary. Thereupon, Commissioner Davis, moved that the rule requiring that no ordinance shall be passed on the day on which it is introduced be suspended, and that in view of the emergency set forth and defined in the preamble to the proposed ordinance, that the same be declared an emergency measure. This motion was duly seconded by Commissioner Carpenter. The motion carried by the following vote: AYES: Mayor Tripp and Commissioners Carpenter, Norris, Thomas and Davis. NOES: None. Thereupon, Commissioner Thomas moved that the ordinance as read in full by the City Secretary be finally passed and adopted by the Commission. This motion was seconded by Commissioner Carpenter and the motion, carrying with it the final passage and adoption of the ordinance, was unanimously carried by the following vote: AYES: Mayor Tripp and Commissioners Carpenter., Morris, Thomas and Davis. NOES: None. Thereupon, the Mayor announced that the ordinance had been finally passed and adopted by unanimous vote of the Commission, in accordance with the requirements of Sectiorsl5, 16 and 17, of Article IX of the Lubbock Charter; and the Mayor thereupon signed and approved the ordinance in the presence of the Commission. The ORDINANCE is as follows: NO. 1525 "AN ORDINANCE by the City Commission of the City of Lubbock, Texas, authorizing the issuance of bonds in the principal sum of $100,000 (being the third and final parcel or installment of a total voted authorization of $500,000 bonds), for the purpose of erecting, copstructing, equipping and maintaining a public library building in the City of Lubbock; prescribing the form of the bonds and the form of -interest coupons; levying a continuing direct annual ad valorem tax on all taxable property within the limits of said City to pay the interest on said bonds and to create a sinking fund for the redemption thereof, and providing for the assessment and collection of such taxes; enacting the pro- visions incident and relating to the purpose and subject of this ordinance; and declaring an emergency." 54-12-350-662 THE STATE OF TEXAS CITY OF LUBBOCK COUNTY OF LUBBOCK ON THIS, the 9th day of February, 1954, the City Commission of the City of Lubbock, Texas, convened in special session at the regular meeting place thereof in the City Hall, all members thereof being present, to -wit: kURRELL R. TRIPP.. HURLEY CARPENTER ) HARRY MOP0 S ) LUCIAN THOMAS ) L. E. DAVIS ) and MRS. LaVENIA LOWE, MAYOR COII�iISSI ONERS CITY SECRETARY also being present; constituting a quorum, at which time the following among other business was transacteA: Commissioner Morris presented for the consideration of the City Commission an ordinance authorizing the issuance of "CITY OF LUBBOCK, TEXAS, WATERWORKS SYSTEM REVENUE BONDS, SERIES 1954", dated March 1, 1954, in the principal sum of $1,000,000, (being the second parcel or installment of a total voted authorization of $4,644,000 bonds). The ordinance was read in full by the City Secretary. Thereupon, Commissioner Davis moved that the rule requiring that no ordinance shall be passed on the day on which it is introduced be suspended, and that in view of the emergency set forth and defined in the preamble to the proposed ordinance, that the same be declared an emergency measure. This motion was duly seconded by Commissioner Carpenter. The motion carried by the following vote: t AYES: Mayor Tripp and Commissioners Carpenter, Morris, Thomas and Davis. NOES: None. Thereupon, Commissioner Thomas,.moved that the ordinance as read in full by the City Secretary be finally passed and adopted by the Commission. This motion was seconded by Commissioner Carpenter and the motion carrying with it the final passage and adoption of the ordinance, was unanimously carried by the following voter AYES: Mayor Tripp and Commissioners Carpenter, Morris, Thomas and Davis. NOES: None. Thereupon, the Mayor announced that the ordinance has been finally passed and adopted by unanimous vote of the Commission, in accordance with the requirements of Sections 15, 16 and 17, of Article IX of the Lubbock Charter; and the Mayor thereupon signed and approved the ordinance in the presence of the Commission. The ORDINANCE is as follows: NUMBER 1526 "AN ORDINANCE by the City Commission of the City of Lubbock, Texas, authorizing the issuance of bonds in the pricipal sum of $1,000,000 (being the second parcel or installment of a total voted authorization of. $4, 644,000 bonds) for the purpose of making permanent public improvements, to -wit: constructing improvements and extensions to the City's combined Waterworks and Sanitary Sewer System, as authorized by the General Laws of the State of Texas, particularly Articles 1111 et seq.., Revised Civil Statutes of 1925, as amended; prescribing the form of the bonds and the form of interest coupons; pledging the revenues of the City's Waterworks System to the payment of the principal of and interest on the bonds, after deduction of rea-snnable expenses of operating and maintaining said system; enacting pro- visions incident and relating to the subject and purpose of this ordinance; and declaring an emergency." 54-12-351-663 Motion by Commissioner Carpenter, seconded by Commissioner Thomas, motion carried, Mayor Tripp and Commiss050/cov) s C ente , avis and Th ma vp in a non vQt, N , to authorize payment o 1988k for �h puvrwoi? 81 'C ��d��i ��2 �� $a`�t �b��ef�W9is effected, to eliminate the duplication of services and to properly divide the responsibility for each type of welfare and charity. The County of Lubbock and the Community Chest each having. agreed to pay 1/3 of the cost of/6uch survey. Estimated cost of this survey being approximately $3845.00. The City of Lubbock and the County of Lubbock and the Community Chest Organization having agreed to accept the proposal of Mr. T. L. Swander, Secretary -Manager of the Community Chest of San Antonio, Texas for making this survey. Mr. Swander's proposal, addressed to Dr. A. C. Barsh, Chairman of the local Welfare Committee, is set out below. February 3, 1954 Dr. A. C. Barsh 2010 Broadway Lubbock, Texas Dear Dr. Barsh: At last I have completed recruiting a survey staff for the study of community health and social services in Lubbock and can now submit a budget of expenses and a tentative time schedule. This letter returned to Mr. You will note that the enclosed estimate calls for a total of $3,344 budgeted cost and Maedgen's Secretary. that I am suggesting a reserve of approximately $500 to be available to cover unbudgeted costs. at Lubbock Nat'l. These costs would be stenographic services required outside the city, possible additional Bank, Feb. 24, 1954. travel costs and any other direct costs that may be required. With this reserve, the proposed costs of the survey would be $3,825. - You will note that I am allowing within the budget an amount to cover ten days of my time and two round trips to Lubbock. Because of the impossibility of scheduling staff members to be in Lubbock at one time I probably will need to come at the end of this month and later when the medical team will be available. I am hopeful that less than ten days of my time will be required but feel that it would be unsafe to plan for less than that amount if the effort should require it. I am delighted to report that I have secured what I consider to be an outstanding team of medical and health specialists who can be available for study on a very reaspnable basis of cost provided they can be used during the last week of May and the first week of June. For the study of health services I am proposing a team from the Medical Field Services School at Brooke Army Medical Center, This school, as you probably know, is responsible for the advanced training of hospital administrators and medical personnel of the U. S. Army. It gives.advanced degrees through the Baylor University School of Medicine and the team is available as a part of the Baylor University Medical School service rather than a direct service of the.Army. (If the team is used it has beer suggested that we stress the Univer- sity connection for publicity purposes, rather than the military connection.) The team is headed by Lt. Col. G. C. Irving, who is the research and field training director of the School and includes four persons; a physician with experience as a hospital administrator, an experienced nurse administrator, and two public health specialists with experience in health research and administration. The cost of the team for a period of fourteen days is $1,6909 as indicated in my attached schedule. I feel very happy to offer their services, To cover the activities of your Recreation and Youth Service agencies, we are able to secure Miss Margaret Berry and Mr. Harold Van Arsdale. Miss Berry is on the field staff of the United Community Defense Services and Mr. Van A rsdale is a field representative of the National Recreation Association, Because of the nationwide support given these two organizations their services will be available at no cost. Their expenses in the field and the transportation also will be paid by the national organizations. I an suggesting a reserve of $200 to meet any contingent costs that may not fit into the schedule of expenses that probably can be met by their national agencies. For the group of Family and Children's Services, including the administration of public assistance, I am suggesting Mr. Walter Whitson, who is the executive Secretary of the Family Service Bureau of Houston. Mr. Whitson has filled that position for 25 years. Dur- ing the days of the depression he organized and administered the city -county agency for public assistance and is considered to be one of the most competent men in the country in the field of family services.. Mr. Whitson will be available on the basis of a $50 fee per day plus the costs of travel to and from Lubbock. I will direct the various groups in the studies to be made, will coordinate the findings and recommendations and assist in the preparation of the final report. In addition, I will study the operations of your central Community Chest and will outline the steps that should be taker} to provide continuing machinery for future planning. Miss Berry, Mr. Van Arsdale and Mr. Whitson can be in Lubbock the week of February the 22nd and the first week of March. I can be in Lubbock for two or three days of that time and would return in May when the medical team is at work. I have made arrangements on a tentative basis with the entire survey staff. If my pro- posals meet with your approval, I should confirm the arrangements As quickly as possible in view of the fact that all members of the staff make their plans well in advance. Miss Berry is now on the West coast and her availability at no cost depends on our catching her as she returns to the East, approximately February 22nd. I am sorry that it has taken more time than I anticipated to work out satisfactory proposals for a survey staff. I believe, however, that these proposals can give your committee a report that will serve as a guide for community developments over a considerable period of years. Sincerely yours, fsf T. L. Swander T. L. Swander Tyelrm Secretary -Manager ESTIMATED COSTS of SURVEY of COMMUNITY SERVICES in LUBBOCK, TEXAS Medical Services Team Team Director - (a) 14 days at $50.00 per diem (no field expenses) -$700.00 (b) Medical Team of four persons - $15.00 per diem for 14 days each 840.00 (c) Travel - Estimated mileage on 3 cars 150.00 $1,69o.00 Recreation & Group Work Miss Margaret Berry 10 to 14 days - no per diem - Mr. Harold Van Arsdale - Reserve for contingencies $ 200.fl0 $ 200.00 Family & Children's Services Mr. Walter Whitson 10 days @ $50.00 per diem $ 500.00 Travel - 75.Q4 $ 575.00 Central Services & Survfy.Oirection 10 days if neF,,ded) at 75.00 $ 750.00 Travel (two trips) 130.00 $ 880.00 TOTAL. for Budgeted Costs $32345.00 Suggested reserve for un-budgeted costs - stenographic services etc. if required 500.00 $3,845.00 No further business coming up for consideration, the City Commission adjourned. Read and approved, this the 2� 5th day of Februa , 1954 MUNt ,aycr La enia Lowe, City Secretary -Treasurer