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HomeMy WebLinkAboutMinutes - City Council - Regular - 6/26/1947REGULAR MEETING. Lubbock, Texas June 26, 1947 The City Commission of the City of Lubbock, Texas, met at 2 F.M. in regular session at the regular meeting Thee in the City Hall, the following members thereof being present, to -wit: - Mayor Pro -tern W. B. Price, Co.rulissioners J. Ray Dickey, F. H. Childress, John Spikes, City Attorney Vaughn E. Wilson, City 411'anager Homer ti. Hunter, City Secretary Lavenia 11.lilliams . Absent: :Tayor C. A. Bestwick. The T.linutes of Regular Meeting of T%y 22, 1947, Recessed Regular Meet- ing of May 26, 1947, Recessed Regular ",eeting of June 5, 1947, Regular Meeting of June 12, 1947, Recessed Regular Fleeting of June 19, 14)47, and Recessed Regular Meeting of June 20, 1947, were read, and upon motion by Commissioner Childress, seconded, carried, the-7 were un- animously approved. The _?inutes of accounts allowed from "."arrant ",To. C-1605 to ""arrant No. C-2392, bott inclusive, were read, and upon !potion by Commissioner Childress, seconded, carried, t'ie,y -ere unanimously approved. This being the date set to receive bids on sale of "1,700,0_O.00 general obligation bonds, which bonds aere authorized by an election held December 11, 1945, Notice of sale being of record at page 378, ::;mute Book 7, the following bids were received. l,Tiss Lavenia 11illiams, City Secretary City of Lubbock, Texas Lubboc'.-, Texas Dear I.ladem: With reference to the City of Lubbock, Texas, :general'obligation bonds in the principal ai�:ount of .,,1,700,000.00, as described by issues, as to amount, puri-,.ose and co::iposite maturity in Your notice of sale, a copy of which is hereto attached: 71e respectfully submit bid or bids as follows: T'IEFTY Y.LAR '.iTURIT-f : --------------------- "Te will ray par and accrued interest to date of delivery to us, plus a premium of .�6$0.00 , based uron six issues having a twenty year maturity_ aggregating the maturityµ set out in your notice for twenty year bonds, ;rovided all six issues beer interest as follows: RATE FOR ALL TBOT7D) ".iTURING ------------------------------------------- 2 0-------------- ',',!,arch 10 , 19 48 -to 19 59 inclusive 2-�% ____—_ March 10, 19 6U to 19 67 , inclusive s"'arch 1G, 19to 19inclusive The =-ross interest cost on the ti'1,700,000.00 principal a:aount of bonds on the above bid, calculated fron the date of the bonds will be .,y 450,046.,3J and deducting the premium the net interest cost will -be .;_442�363_�___. fie` average net interest on the above bid is 2.34528 i T EIFTY-FIVE 21-LR i`7YTL'RI_-'Y As an alternate, we will pay rar and accrued interest to the date of delivery to us, plus a premium of N 622.20 _ , based uron the ; six issues having a twenty-five year maturity, aCgren4tinl, the maturity set out in ,your notice for tv,enty-five year bonds, provided all six issues bear interest as follows: RATE ----- 2_+�---------- ---__ 2 aL----------- FOR iLL ,�OrTDS '? iTTTRITTG �I ---------------------------------- 1-Tarch 10, 19-48-to 19-59_, inclusive `'arch 10, 19_60_to 1.9_72 ,inclusive "arch 10 19 to 19 ____ ____,inclusive! Ij The gross interest cost on the ;'pl,700,000.00 principal amount of bonds on t."_e above bid, calculated from the date of the bonds will be 596i439_17and deducting the premium the net interest cost will be 595s316.97 The average net interest rate on the above bid is 2.45259 o In accordance with your notice we agree: 1. To accept delivery of and make ra,yment for said bonds at the American National Bank, Austin, Texas. 2. The Certified or cashier's check drawn on the Hale County State Bank of I la in_vie�^�_ _ , Texas , in the amount of�34 , 000 , 00 made payable to The City of Lubbock, Texas, may be retained by The City of Lubbock, Texas, in event we are the successful bidder, until we shall have accented delivery of said bonds and shall have raid for them; or, in event we fail or refuse to carry out the terms of this agreement, said check shall be cashed by The City of Lubbock, Texas, as full and co�.lplete liquidated damages. The Good Faith check is to be returned to us by The City of Lubbock, Texas, within four hours after tabluation of bids if we are not the successful bidder; and, in event we are the successful bidder, it shall be returned to us by the City i•;hen we shall have accepted said bonds and shall have paid for them. .3. V7e shall be furnished with a complete certified Copy of the proceedings had in connection with the issuance of said bonds. 4. "1e (do) PUMUM) require the opinion of Dumas and Huguenin, Strike one) of Dallas, Texas. 5. We are submitting this bid on the basis of securin7 the unqualified ar roving opinion of ''flood -Hoffman New York LT York which --------------i----------L_ _e-u------' we agree to procure and for i-vhich we will pay. Respectfully Submitted, June 26, 1947. Braun -Bosworth & Co. Toledo, Ohio. Stranahan, Harris & Co.,Inc. Paine, Webber, Jac'rson & Curtis Stern Brothers & Co. Dallas Union Trust Co. Dittmar & Comrany Crummer & Comranv,Inc.,of Texas, Dallas, Texas City National Bane & Trust Co. C . F. Childs and Compah,y McClung & Knickerbocker Boettcher & Comranv C. R. T'Joolse,y & Co. By _C. i_T._Smith - Cru-,.mer & Co.(Signed '%re, the undersigned officials of the City of Lu'a.,ock, Texas, having determined that the above bid is the best and most favorable secured bid submitted, do hereby accept the same and desi,7n_te the maturity as 2U years, by order of the City Co--ryrdission, this the 26th day of June,. 1 47. !_I. B. 1,rice__j9igned) __ ____ L,ayor,-Fro-tem City of Lub'OOk c, Texas . ATTEST: Lavenia �r---illiarn- s (Signed) ----------------------------- City Secretary, City --of Lubbock SEAL :Tiss Lavenia ';'illiams, City Secretary City of Lubbock, Texas Lubbock, Texas Dear lladam: With reference to the City of Lubbock, Texas, general obligation bonds in the principal amount of :1,700,000.00, as described by issues, as to amount, prupose and co.rnposite maturity in your notice of sale, a cosy of which is hereto attached: We respectfully submit bid or bids as folio,-.; : UI ENTY --BAR 1-UTURITY : -------------------- We will pay par anu' accrued interest to date of delivery to us, plus a premium of tip_ 239_70 ___, based upon the six issues having a twenty ,year maturity agg-egating the maturity set out in your notice for tr,ent y ?ear bonds, provided all six issues bear interest as follows: RATE ----2-3 /8------------- .... 2-i11.............. ----2_!�L--------------- FOR ALL ROTTD.S Yi TTTRINr= ------------------------------------ Harch 10, 19_48_to 1960,__inculsive March 10, 19_61_to 19_62_, inclusive Harch 10, 19_63_to 1967,__inclusive The gross interest cost on the 41,700,000.00 rrincipal amount of bonds on the above bid, calculated from the date of the bonds will be q_45�'727.50 , and deducting the preraium the new interest cost will be w-_451-,487_80_ ^he average net interest on the above bid is _2.o50%. T'lE TTY-FIVE YEAR l:1yT'TITY: -------FIVE--------------: As an alternate, we will nay tar and accrued interest to the date of delivery to us, plus a preriium of .'None_, based upon the six i::,sues having a twenty-five year maturity, aggregating the maturity set out in ,your notice for twenty-five ,year bonds, provided all six issues bear in- terest as follows: RATE ------2-1L2............ ------2-114-------------- ------2-3/8------------ ------2-1/2 FOR 1,,LL BO LTDS P "iTUR II'TG March 10, 19_48_to 1957,__inclusive March 10, 19_58-to 1961,_-inclusive March 10, 19_62 to 19_65inclusive Ilarch 10, 19_66_to 19_72 , inclusive The gross interest cost on the .,1,700,000.00 principal amount of bonds on the above bid, calculated from the date of the bonds will be 7_593i000.00and deducting the pre­,ium the net interest cost will be ,�_593i�0_f_00 The average net interest rate on the above bid is _2.4409�%O. In accordance with your notice we agree: 1. To accept delivery of and make payment for said bonds at the American National Bank, Austin, Texas. 2. The certified or cashier's check drawn on the Citizens National Rank of Lubbock _ Texas in the amount of '?34 000 00 made payable to The City of Lubbock, Texas, may be retained by The City of Lubbock, Texas, in event we are the successful bidder, until we shall have accepted delivery of said bonds and shall have said for them; or, in event we fail or refuse to carry out the terns of this agreement, said check shall be cashed by The City of Lubbock, Texas, as full and complete liquidated damages. The Good Faith check is to be returned to us by The City of Lubbock, Texas, vithin four hours after tabulation of bids if we are not the successful bid.ier; and, in the event we are tre successful bid:'er, it shall be returned to us by the City when we shall have accepted said bonds and shall have raid for them. 3. "Te shall be furnished with a complete certified Copy of the r-ro- ceedings had in connection cith the issuance -f said bonds. 4. T'e (do)�: require the or inion of Dumas and — 77r11ke onej Huguenin, of Dallas, Texas. 5. We are submitting this bid on the basis of securincr the unquali- fied approving opion of i._essrs. ChaZm_=n_&_Cutler._Chicano-Ill. which ive agree to procu:4 and for which we will .ay. Respectfully Subrlitted, June 26, 1947. The National City Rank of New York Dallas Rure & Son Barcus, Kindred & Company J. M. Dain & Company First Southwest Company Seasongood & Mayer Russ & Company Stubbs, Smith & Lombardo, Inc. Rotan, Mosle and Moreland Frindley and Hess By___Lockett _Shelton _(Signed) ------- Cashier's bid check received in amount of 434,OJO.00. Locket_ Shelton__(Si.Gned) Miss Lavenia Williams, City Secretary City of Lubbock, Texas Lubbock, Texas. Dear Madam: With reference to the City of Lubbock, Texas, general obligation bonds in the principal amount of ,,y1,700,000.00, as described by issues, as to amount, purpose and composite maturity in your notice of sale, a copy of which is hereto attached: vile respectfully submit bid or bids as follows: TVENTY YEnR T UTUR ITY : We will pay per and accrued interest to date of delivery to us, plus a premium of '_50.15 , based upon the six issues having a twenty ,year. maturity aggregating the maturity set out in your notice for twenty year bonds, provided all six issues beer interest as follows: RATE FOR ALL BONDS I1ATITRING ------------------------------------------------ 2_lZ_------------- Idurch 10, 19_48_to 19 67 , inclusive March 10, 19 to 19 inclusive ivlarch 10, 19 to 19inclusive The gross interest cost on the 4,1,700,000.00 principal amount of bonds on the above bid, calculated from the date of the bonds will be T__479,008.05 and deducting the Tremiuri the net interest cost will be ' 7y-478,957.90 The average net interest on the above bid is 2_49973o. — --- TV?ENTY-FIVE YEAR A TATTIRITY : ------------------------- As an alternate, we will pay par and accrued interest to the date of delivery to us, plus a premium of a 3.L017.50 _—, based upon the six issues having a twenty-five ,year ma. urity, iiggreq.ating the naturity set out in your notice for twenty-five ,year bonds, Provided all six issues bear interest as follows: -------3—--------------- 101 -------2--ad-------------- -------------------------- FOR ALL BONDS "TATITRIN T March 10, 19_48_to 1957,_—inclusive March 101 19 58 to 19 72_, inclusive March 10, 1ST ---- to 19--, inclusive The gross interest cost on the 'l 700 000.00 principal amount of bonds on the above bid, calculated from 'the date of the bonds will be and deducting the premium the net interest cost will be 626i015_53 The average net interest rate on the above bid is _2_576903—_] .-- In accordance with your notice we agree: 1. To accept delivery of and make payment for said bonds at the American National Bank, Austin, Texas. 2. The certified or cashier's check drawn on the Lubbock National__ Bank of Lubbock , Texas, in the amount of �04,000.00, made pay,:ble to The -City -of Lubbock, Texas, may be retained by The City of Lubbock, Texas, in event we are the successful bidder, until we shall have accepted delivery of said bonds and shall have paid for them; or, in event we fail or refuse to carry out the terms of this agreement, said check shall be cashed by The City of Lubbock, Texas, as full and complete liquidated damages. The Good Faith check is to be returned to us by The City of Lubbock, Texas, within four hours after tabulation of bids if we are not the successful bidder; and, in event we are the successful bidder, it shall be returned to us by the City when we shall have accepted said bonds and shall have paid for them. 3. We shall be furnished with a complete certified Copy of the proceedings had in connection with the issuance of said bonds. 4. ?' e (do) XdhX _ ___ require the opinion of Dumas and 7Sthike onej Huguenin, of .Dallas, Texas. a. We are sumitting this bid on the basis of securing; the un- qualified approting opinion of which we agree to procure and for which we will_ -pay.- Respectfully Submitted, June 26, 1947. R. A. Underwood & Co. Inc. First of Michigan Corp. Colunbian Securities Corp. Kibbon, Miccormic & Co. John Nureen & Co. Provident Savings Bank & Trust Co. E. H. Rollins & Sons, Inc. Barrett, Fitch & Co. Otis & Co. Walter, ;Doody & Heimerdinger 1'Jm. ,. Edwards & Co. The Neil, Roth & Irving Co. By_Frank B . _I Ilcllahon_ ( Si c ne d ) --------------- -- --- Cashier's bid check received in amount 1;'34,000.00. After consideration of bids, motion was ,riade by Co-missioner Childress, ter- seconded by Commissioner Spikes, carried unanimously, th,:t the bid of Crummer and Company, and associates, be accented on the basis of the Twenty (20) year maturities. Motion by Commissioner Childress, seconded, carried, Ordinance No. 819 passed 2nd and final reading. ORDINANCE NO. 819 .,:LI\? ORDINANCE A ,21,,TDING ORDI,,TYOTCE NO. 661, AND TAKING LOTS 1, 2 ND 3, BLOCK 10 RICIETOIND 21,D ADDITION TO THE CITY OF LUB�OCK OUT Ol' T n rr DISTRICT AND PLACI ;G TITET-1 IN AN "F' DISTRICT, A:TD TAK_IT,IG LOTS 1, 2, AND 3, BLOCK 1, :ffEELOCK ADDITION TO TIE. CITY OF LURBOCK_ FROT.? AN "F,' DIS- TRICT APTD FLI-LING THLi.T IN .1 T1J" DISTRICT. LEGAL NCTICE of troposed Amendments to Zoning-; Ordinance of_the City_of._L2.bbockTexas_____ NOTICE is hereby given that the rlanning and Zoning Commission has recommended to the City Commission that Zoning; Ordinance No. 661 be amended so that: Lots 13 through 24 inclusive, Block 34, Overton Addition to the City of Lubbock, be changed from a "B" District to an "E" District. The City Commission will hold a public 'nearing on June 26, 1947, at 2:30 o'clock P.71%, in the City Commission: room on the second floor of the City Hall in Lubbock, to consider the recommendations of the Zoninn and ilanning Commission to determine the advisability of adopt- ing its proposal, and at which time and place all interested Tersons will be given an opportunity to protest a,ainst the probosed amendment or make recommendations in support thereof. After said hearing the City Commission will determine whether the Zoning Ordinance will be amended in accordance with such recommendation. C. A. Bestwick TIayor of the -City - - of Lubbock, Texas ATTEST: Lavenia Williams ------------------------ City Secretary (SEAL) The above notice having been published June 4, 5 and 6, 1947, setting this as date of hearing regarding zone change, no person appearing to protest such zone change, motion was made by Commissioner ,Spikes, seconded, carried, Ordinance No. 820 passed first reading. ORDINANCE N0. 820 AN ORDINANCE ATIE..`-DIFG ORDI11TANCE NO. 6619 SO AS TO TAKE LOTS 13 TO 24 INCLUSIVE+', BLOCK 34, OVERTON ADDITION TO THE CITY OF LUB90CY OUT OF A "B" DISTRICT AND FLACE TT?ZT': IN AN "E" DISTRICT. ' There was discussion of makine the City of Lubbock's DDT spray unit available to small towns in thin area, for a consideration, and the City Manager was authorized to make the unit available to other toxins when it is not in use by the City of Lubbock. Motion by Commissioner Childress, seconded, carried, the following' bonds were unanimously a.proved and ordered filed: General Contractor's Bond - General Contractor's Bond - Fumigation and Extermination Bond - Joe Telford Johnson Brothers Construction Co. International Extermination Co. Bids as follows w6re received for constructing tennis court back stors for the Psrk Department: Stewart Iron-Tor'-.s - p415.00 Forrest Lumber Company - 436.84 Cyclone Fence Company - 459.00 Motion by Commissioner Childress, seconded, ca-ried, that the bid of Stewart Iron ?'Yorks be accented for thi:� pur,,ciagep, it being; considered the lowest and b-st bid. The following bids were received for printing 16,000 Tax Receipts and Tax Receipts and Tax Notices for use by the City Tax Department: Bennett irinting Company - J52.85 Stafford Lowden Comrany 152.8 Lubbock '.trinting Company 170.70 Motion by Commissioner Spikes, seconded, carried, that the bid of Stafford Lowden Company be accepted for this purchase. The following, bids on City of Lubbock-=nnual audit, for fiscal year ending March 31, 1947, were read: Cornell J. T. H. A. Condray C. J. & Co. Talking,ton Bolinger & Fratas Brasher General Supervisor -35.00 $35.00 - .R40.00 - Cert. Pub. 1-1cct. 60.00 - 1�35.00 - -�35.00 Supervising Senior Acct. 25.00 - 25.00 65.00 25.00 Office Senior Accountant 20.00 25.00 - - - Junior Accountant 15.00 15.00 15.0010.00 -- Typing - - Cost - - Motion by Commissioner Spikes, seconded, carried, to award the bid to Cornell & Company, theirs being considered the lowest and best bid. Motion by Commissioner Childress, seconded, carried, to finally accept and authorize that final payment be made to Nordberg Manufacturing Company on TG 219 Diesel Engine on which contract was signed August 1.6 , 1945. No further business coming up for consideration, the "ity Commission Read and approved this the 14th day of July , 1947. Attest: ity Secretary-.